State pensioners under the age of 75 in the UK will receive an extra £575 due to the Triple Lock policy, which guarantees pension increases based on earnings growth, inflation, or a minimum of 2.5%. The new full state pension is now £230.25 per week, while the old basic state pension is £176.45 per week.

• 01The Triple Lock policy ensures state pensions increase by the highest of average earnings growth, Consumer Price Index (CPI) inflation, or 2.5%.
• 02The full new state pension for 2025-2026 is £230.25 per week, totaling £11,973 annually.
• 03The old basic state pension is £176.45 per week, amounting to £9,175 per year.
• 04Pension credit can supplement income for those on a low state pension, potentially unlocking additional benefits.
• 05In 2023, only 65% of eligible older individuals received pension credit, leaving around 800,000 missing out.

This increase in pension payments will provide financial relief to younger pensioners, helping them manage living costs more effectively.