New state pension weekly payments due from next April - full list of increases

Millions of retired Brits will see a significant rise in their pension entitlement from next April under the triple lock guarantee. Figures released by the Office for National Statistics (ONS) last month confirmed that the state pension will rise by 4.8% in the spring, in line with total earnings growth for the quarter to July. The pension increases every April in line with whichever is highest of total earnings growth between May and July in the previous year, Consumer Prices Index (CPI) inflation in September of the previous year, or 2.5%.

The confirmation that CPI in September was 3.8% meant the increase will be based on earnings growth, affording retirees a significant income boost. It means those on the full new state pension will receive £241.30 per week and those on the maximum basic state pension £184.90 per week from April.

Not all pensioners are eligible for the retirement income, which is dependent on national insurance records. Brits must have around 35 years of national insurance contributions (NIC) to receive the full new state pension, although this can also differ if workers were "contracted out".

Industry figures have warned that the uplift will put some retirees precariously close to the point of being liable for income tax, however.

The new full state pension amount of £12,547 falls just £23 short of the Personal Allowance income threshold, which, if exceeded, would force pensioners to pay tax in retirement.

The Labour government has pledged to keep the Personal Allowance frozen at £12,570 until April 2028.

Full new state pension:

• Weekly: £241.30 (from £230.25)
• Monthly: £965.20
• Annually: £12,547

Full basic state pension:

• Weekly: £184.90 (from £176.45)
• Monthly: £739.60
• Annually: £9,614