State Pension Triple Lock 2026: What You Will Get
Published 30 March 2026 • 6 min read
The State Pension triple lock guarantees that the State Pension rises each year by the highest of average earnings growth, CPI inflation, or 2.5%. For 2026/27, this mechanism determines how much more pensioners will receive from April 2026.
How the Triple Lock Works
Each September, the government looks at three measures and picks the highest to determine the following April's State Pension increase:
- Average earnings growth — the increase in average weekly earnings over the year to July
- CPI inflation — the Consumer Prices Index for the year to September
- 2.5% — a guaranteed minimum floor
New vs Basic State Pension Rates
| Pension Type | 2025/26 Weekly | 2026/27 Weekly (est.) | Annual (est.) |
|---|---|---|---|
| New State Pension (full) | £221.20 | £230.25 | £11,973 |
| Basic State Pension (full) | £169.50 | £176.40 | £9,173 |
The Tax Trap
As the State Pension rises, it edges closer to the personal allowance (£12,570). When the State Pension exceeds this threshold, pensioners with any additional income — even a small private pension — will face income tax. This is known as the State Pension tax trap, and it affects a growing number of retirees each year.
Is the Triple Lock Sustainable?
The triple lock is politically popular but financially expensive. It costs the Treasury billions each year and the gap widens as the pensioner population grows. There have been calls to replace it with a double lock (removing earnings) or to means-test it. For now, both major parties have committed to maintaining the triple lock, but future changes remain possible for anyone planning decades-long retirement income.
Key Takeaways
- The triple lock guarantees the State Pension rises by the highest of earnings, inflation, or 2.5%
- The full new State Pension for 2026/27 will be approximately £230 per week
- The State Pension is approaching the personal allowance, creating a potential tax issue
- Check your NI record to ensure you qualify for the full amount
- Build additional private pension savings alongside the State Pension