Weekly Rate by Tax Year
Source: DWP/HMRC annual uprating statements, cross-checked against House of Commons Library — State Pension triple lock. Verified 30 Jul 2026.
| Tax Year | Full New State Pension (weekly) | Annual | Increase |
|---|---|---|---|
| 2016/17 | £155.65 | £8,094 | — |
| 2017/18 | £159.55 | £8,297 | +2.5% |
| 2018/19 | £164.35 | £8,546 | +3.0% |
| 2019/20 | £168.60 | £8,767 | +2.6% |
| 2020/21 | £175.20 | £9,110 | +3.9% |
| 2021/22 | £179.60 | £9,339 | +2.5% |
| 2022/23 | £185.15 | £9,628 | +3.1% (CPI only — earnings element of triple lock suspended) |
| 2023/24 | £203.85 | £10,600 | +10.1% |
| 2024/25 | £221.20 | £11,502 | +8.5% |
| 2025/26 | £230.25 | £11,973 | +4.1% |
| 2026/27 | £241.30 | £12,548 | +4.8% |
What Is the Triple Lock?
The triple lock guarantees the state pension rises every April by whichever is highest of: average earnings growth (May–July the previous year), CPI inflation (the preceding September), or a floor of 2.5%. Introduced in 2011/12, it has applied every year since — with one exception: for 2022/23, the earnings element was temporarily suspended by the Social Security (Uprating of Benefits) Act 2021, because pandemic-distorted wage figures would have produced an unrealistically large 8%+ rise. That year's increase used CPI (3.1%) instead.
Ten-Year Trend
Since its 2016 introduction, the full new state pension has grown from £155.65/week to £241.30/week — a cumulative rise of roughly 55% over ten years, comfortably outpacing average inflation over the same period thanks to the triple lock's design. The single largest jump was 2023/24's 10.1% increase, a direct result of the high inflation during the 2022 cost-of-living crisis.
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