Five changes to state pensions coming next month

The government is making a series of changes to the state pension next month.  

As well as reinstating the triple lock, there will be changes to a range of pensioner payments. 

Additionally there have been reports the government is delaying increasing the state pension age to 68. 

The plans were expected to be confirmed on 7 May when the Department of Work and Pensions (DWP) next announced its state pension age review. 

But concerns around how the change would go down with voters ahead of the election, and around decreasing life expectancy projections, have prompted ministers to delay the increase. 

A DWP spokesperson said: “The Government is required by law to regularly review the State Pension age and the next review will be published by 7th May.” 

Meanwhile, there are just a few weeks to go to buy National Insurance credits to boost your state pension, although the Department for Work and Pensions (DWP) has said there may be some flexibility with the 6 April deadline, due to high demand.

We run through the changes you need to know about that will kick in on 6 April, whether you’ve yet to reach state pension age, started claiming your pension recently, or have been receiving it for years already.

1. New state pension

Those receiving the new state pension will get a boost in the new tax year, with a 10.1% rise in their payment. This is due to the return of the triple lock, which was temporarily suspended last year. The triple lock ensures the state pension rises each by whichever is highest: 2.5%, inflation or average earnings. This year, the payout is going up with inflation, which has been running at a 40-year high. 

The full new state pension is currently worth £185.15 a week, and this will rise to £203.85 on 6 April. This is the biggest-ever increase to the state pension.

People are eligible for this type of state pension if they are a woman born on or after 6 April 1953, or a man born on or after 6 April 1951.

So, if you haven’t reached state pension age yet, you’ll be entitled to the new state pension when you come to retire. However, you must have at least 10 qualifying years of National Insurance contributions to be eligible - rising to 35 years for those who want to secure the full amount.

2. Basic state pension

If you retired before April 2016, you may be receiving the basic state pension. This is an older-style pension that the government pays to men born before 6 April 1951 and women born before 6 April 1953.

The full basic state pension is £141.85 a week, and this will rise to £156.20 a week, thanks to the triple lock.

3. Married woman’s pension

The next change relates to the married woman’s pension, a type of basic state pension. Under the old system, women could derive payments from their spouse or civil partner’s National Insurance contributions. The sum is worth 60% of the basic state pension rate. 

It goes up every April in parallel with the basic state pension. This means it will rise from £85 a week to £93.60 next month.

4. Over 80 pension

As the name suggests, this is a state payment for people aged 80 or over. To qualify, they must either get a basic state pension of less than £85 a week, or no state pension at all.

It’s currently worth £85 a week. For the 2023/24 tax year, the amount will rise to £93.60 a week.

5. Additional state pension 

The additional state pension (also known as the second state pension or SERPs) is also protected by the triple lock, and will soar by 10.1% on 6 April. It is a top-up that you could get in addition to the basic state pension.

How much a person gets from the additional state pension usually depends on how long they paid National Insurance for, their earnings and whether or not they were contracted out. It’s also possible to inherit additional state pension from your partner.

The maximum sum people can receive will increase from £185.90 a week to £204.68 a week.

To find out how other government benefits will change on 6 April, check out this handy list on the government website.