UK state pension could hit £13,000 ‘in next five years’

The state pension triple lock could add more than £1,500 to the state support if it’s continued beyond the next general election by the next government.

The UK state pension triple lock symbolised by three interlinked padlocks and UK coins
The UK state pension is set to increase 8.5% in April
(Image credit: Getty Images)

The UK state pension could pay out more than £13,000 a year by 2030 if the current triple lock rules remain in place, analysis by AJ Bell has found.

Pensioners with a full National Insurance contributions record can currently get £10,600 a year (£203.85 per week). From April, this will rise 8.5% to £11,502 annually (£221.20 a week) in line with the rapid increase in earnings registered last summer. It has led to warnings that some pensioners could be landed with an unexpected tax bill in 2025 due to the freeze on the income tax allowance.

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How the UK state pension could change between now and 2030
YearFull new state pension valueCPI inflationEarnings growthTriple lock increase applied
2024/25£11,5026.7%8.5%Earnings
2025/26£11,962.082.75%4%Earnings
2026/27£12,291.042.5%2.75%Earnings
2027/28 £12,598.312%1.75%2.5%
2028/29 £12,913.272%2%2.5%
2029/30 £13,236.102%2%2.5%

Henry Sandercock has spent more than eight years as a journalist covering a wide variety of beats. Having studied for an MA in journalism at the University of Kent, he started his career in the garden of England as a reporter for local TV channel KMTV.

Henry then worked at the BBC for three years as a radio producer - mostly on BBC Radio 2 with Jeremy Vine, but also on major BBC Radio 4 programmes like The World at One, PM and Broadcasting House. Switching to print media, he covered fresh foods for respected magazine The Grocer for two years.

After moving to NationalWorld.com - a national news site run by the publisher of The Scotsman and Yorkshire Post - Henry began reporting on the cost of living crisis, becoming the title’s money editor in early 2023. He covered everything from the energy crisis to scams, and inflation. He also has bylines in MoneyWeek.