Overview
- From April 6, 2026, the new state pension will increase to £241.30 a week and the basic state pension to £184.90 under the triple lock.
- Ministers have pledged to maintain the triple lock for this Parliament, with officials estimating the new state pension could be up to about £1,900 higher by 2029.
- From April 2029, employee National Insurance savings via pension salary sacrifice will be capped at £2,000 a year; government data indicate 7.7 million employees use salary sacrifice and 3.3 million currently exceed the threshold, while AJ Bell advises savers not to stop pension contributions.
- Targeted support is being rolled out, including the DWP over‑80 pension at £105.70 a week in 2025–26 for eligible retirees and Scotland’s Pension Age Winter Heating Payment of £101.70 to £305.10 for around 880,000 pensioners.
- With the income tax personal allowance frozen, some pension‑only recipients are nearing the tax threshold, and the Chancellor has stated that people whose only income is the state pension will not pay income tax on those payments.