View Image

State pensioners are set for bumper Department for Work and Pensions ( DWP ) payments thanks to the rising Triple Lock. The Labour Party has confirmed it will increase the state pension by 4.8 per cent for 2026/27.

The 2026/27 amount is set to be £12,547 a year, up from £11,973 and just £23 under the frozen personal allowance of £12,570. Steven Cameron, pensions director at Aegon, said: “While welcome, the increase does come with a sting in the tail for future years.

"Under the triple lock, the full state pension will increase by a minimum of 2.5 per cent in future years, meaning in 2027/28 it will be at least £12,861.

READ MORE State pensioners will have to pay back £200 Winter Fuel Payment under new plan

“This is above the personal allowance of £12,570, which is alrea

See Full Page