Pensioners are set to receive a higher weekly State Pension from April 2027 after the Government announced the new payment rates for the next financial year.
The full new State Pension will increase to £250.70 a week, up from £241.30, while the full basic State Pension will rise to £192.10 a week from £184.90.
The increases amount to an extra £9.40 and £7.20 a week respectively, giving eligible pensioners hundreds of pounds more over the course of a year.
The new figures have been set out in a House of Commons Library briefing published on Wednesday, November 11, covering the benefit and pension rates announced for the 2027/28 financial year.
How much are pensions going up by?
Both the basic and new State Pension will rise by 3.9% from April 2027, in line with the annual increase in average weekly earnings between May and July 2026.
The increase is part of the Government's commitment to the State Pension triple lock, which means payments rise each year by the highest of inflation, average earnings growth or 2.5%.
New State Pension rates from April 2027
The full weekly rates will be:
- New State Pension: £250.70, up from £241.30 – an increase of £9.40 a week.
- Basic State Pension: £192.10, up from £184.90 – an increase of £7.20 a week.
Over a full year, the increase works out at around £488.80 for someone receiving the full new State Pension and £374.40 for someone receiving the full basic State Pension.
The new State Pension applies to people who reached State Pension age on or after April 6, 2016. The basic State Pension is the core payment under the old State Pension system, for people who reached State Pension age before that date.
The figures are the full weekly rates. The amount an individual receives will depend on their National Insurance record and whether they qualify for the full entitlement.
Recommended reading:
- Calls are growing to halt Government State Pension age rise to 68
- Should you leave your heating on all day? Martin Lewis has shared his verdict
- Workers over 21 given £910 cash boost confirms Andy Burnham
Pension Credit also increasing
Pension Credit is also set to rise by 3.9% from April 2027, with the standard minimum guarantee increasing to:
- Single pensioners: £247.30 a week.
- Couples: £377.40 a week.
Pension Credit is a means-tested benefit designed to top up the income of people who have reached State Pension age and are on a lower income.
It can also provide access to other support, including help with housing costs and some health-related expenses.
Share