State Retirement Pensions
The question
To ask the Chancellor of the Exchequer, if she will make it her policy to maintain the differential between the levels of the (a) new state pension and (b) lower personal tax allowance.
Answered by James Murray
This Government remains committed to supporting pensioners and giving them the dignity and security they deserve in retirement.
Through our commitment to protect the Triple Lock, over 12 million pensioners benefitted from a 4.1% increase to their basic or new State Pension in April 2025. Over the course of this Parliament, the full yearly rate of the new State Pension is expected to increase by around £1,900 based on the Office for Budget Responsibility’s latest forecast.
The Personal Allowance - the amount an individual can earn before paying tax - will continue to exceed the basic and full new State Pension in 2025/26. This means pensioners whose sole income is the full new State Pension or basic State Pension without any increments will not pay any income tax.
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