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What does the budget mean for pensioners, and those approaching State Pension age?
The triple lock raises the state pension by 4.8%, but an extended personal allowance freeze will increase taxation on pensions starting 2027, affecting many retirees' net income.
- On Wednesday November 26, 2025, Chancellor Rachel Reeves confirmed a 4.8% rise in the state pension for the 2026/27 financial year, adding £575 a year to the new state pension and £440 to the basic state pension.
- The Labour government reiterated its commitment to the Triple Lock, with Pension Credit rising next April and over three quarters of pensioners in England and Wales receiving a Winter Fuel Payment this winter.
- With the personal allowance frozen at £12,570 until 2029/30, only one in three pensioners receives the full new state pension, increasing taxable pensions from 2027/28.
- Experts warned the cap on pension pots before tax and salary sacrifice changes could discourage saving despite Chancellor Rachel Reeves saying the cut aims to boost investment.
- With overseas retirees in mind, the budget abolishes voluntary class 2 National Insurance contributions and ends NI exemption for salary-sacrificed pension contributions above £2,000 a year from April 2029.
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Full-time carer hits out at 'moving goalposts' for state pension in UK's retirement capital
A full-time carer has hit out at the Government for "moving the goalposts" of the retirement age in the Budget, forcing her to "keep working".Today, the Chancellor revealed that the state pension will rise by 4.8 per cent over the 2026/2027 financial year, increasing by around £570 a year. But carers and pensioners in Yorkshire have lambasted Ms Reeves' balancing of the books, lamenting the consistently moving goalposts. A full-time carer from Y…
·London, United Kingdom
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Total News Sources17
Leaning Left0Leaning Right1Center14Last UpdatedBias Distribution93% Center
Bias Distribution
- 93% of the sources are Center
93% Center
C 93%
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