What is the state pension?
The State Pension is a regular payment from the government to people who have reached State Pension age. In 2026/27 the full new State Pension is £241.30 a week. How much you get depends on your National Insurance record, and you usually need 35 qualifying years for the full amount.
There are two systems. People who reached State Pension age after April 2016 get the new State Pension. It is worth up to £241.30 a week in 2026/27, or about £12,548 a year. Those who retired earlier get the basic State Pension, worth up to £184.90 a week, often with extra additional pension on top. You need at least 10 qualifying years to get anything.
Pensions rise each April under the triple lock. This guarantees an increase in line with whichever is highest: average earnings growth, CPI inflation or 2.5%. In April 2026 earnings growth won, giving a 4.8% rise. The State Pension age is currently rising from 66 to 67, a change being phased in between 2026 and 2028. It is due to rise again to 68 between 2044 and 2046.
The State Pension is the biggest single item in the welfare budget, paid to more than 12 million people. It is paid from today's National Insurance contributions rather than a savings pot. Because people are living longer, the cost keeps growing, which is why the State Pension age and the triple lock are regularly debated. Many people also have workplace or private pensions on top.
- Pays the state pension
- Runs Universal Credit
- Pays disability benefits such as PIP
- Runs Jobcentres and employment support
- Sets child maintenance and health and safety policy
Budget: About £300bn a year, mostly benefits and pensions. Staff: About 90,000
What it runs or funds
Jobcentre Plus, Child Maintenance Service, Health and Safety Executive, The Pensions Regulator, Money and Pensions Service
Did you know? The state pension is the single biggest benefit, costing well over £100bn a year.
The left generally backs the triple lock to protect pensioners from poverty, while some argue extra help should target poorer pensioners.
The right often supports pensioners too, but some argue the triple lock is unaffordable and unfair to younger taxpayers.
Britain is split. Now you decide.
In Population Decides you can keep or scrap the triple lock in your Budget and see how pensioners, younger voters and the public finances respond.
Play Population Decides freeCommon questions
How much is the full State Pension in 2026?
The full new State Pension is £241.30 a week for 2026/27.
What is the State Pension age?
It is rising from 66 to 67 between 2026 and 2028, and is due to rise to 68 later.
Is the State Pension taxed?
Yes. It counts as taxable income, though it is paid without tax taken off.
What makes the DWP stand out among government departments?
It spends more money than any other department. The DWP spends more than any other department, mostly on benefits and pensions.
Which is the single biggest benefit?
The state pension. The state pension is the biggest, costing well over £100bn a year.