Something surprising has emerged in recent pension coverage: older state pensioners could miss out on what looks like a “free £241” weekly increase, thanks to revisions in wage data used under the triple lock system. In short, some may be excluded from receiving the full benefit of that boost.
What’s the “£241 payment” all about?
- Analysts forecast that under updated wage growth figures, the full new State Pension may rise to around £241.30 per week (versus earlier estimates like £241.05).
- Those on the basic State Pension (old system) could see theirs rise to £184.90 per week (instead of earlier projections like £184.75).
- But “older” pensioners—those who qualify under the old State Pension rules—may not automatically benefit from that top increase if they already receive a basic State Pension with additional elements.
Helen Morrissey of Hargreaves Lansdown noted the upward revisions affect how much people can expect and who exactly will benefit.
Why some pensioners will miss out
The underlying issue lies in which pension system you fall under and how your retirement income is structured:
- Old vs New State Pension systems
- If you reached State Pension age before 6 April 2016, you typically fall under the old/basic State Pension rules.
- Those reaching State Pension age after that date generally follow the new State Pension regime.
- Additional State Pension / protected payments
- Under the old system, people can have additional State Pension or extra payments tied to past National Insurance contributions.
- Some pensioners with protected or legacy amounts may not see the full bump to £241.30, because portions of their pension are not treated in the same way under the triple-lock calculation.
- Wage data revisions and triple lock
- The triple lock increases pensions each April by the highest of inflation, average wage growth, or 2.5%.
- ONS has revised wage growth upward. That shift has pushed the benchmark higher, changing projections.
- But changes in wage growth don’t always apply evenly across legacy pension components or protected payments tied to old structures.
Current pension rates in 2025/26
Here are the applicable weekly rates in the 2025/26 tax year:
| Pension scheme / component | Weekly rate (2025/26) | Notes |
|---|---|---|
| New State Pension (full) | £230.25 | Increase from prior year under triple lock |
| Basic State Pension (old) | £176.45 | For those who reached pension age under old rules |
| Projected higher new pension (if wage growth drives bump) | ~£241.30 | Based on revised wage figures |
| Projected higher basic pension | ~£184.90 | For legacy/basic system under same wage revision |
Who exactly is at risk of missing out?
- Pensioners with legacy components — If part of your pension comes from protected payments or additional State Pension, that portion may not be eligible for the full boost to ~£241.30.
- Older pensioners on old rules — If you’re under the old/basic State Pension, you may not see raises in line with new pension forecasts.
- Those relying heavily on the basic structure — If your pension lacks extra or “new system” components, the full bump may not apply to you.
What should affected pensioners do?
- Check your pension breakdown
- Review your State Pension statement. Note how much is “core pension,” how much is “additional,” and if you have “protected payments.”
- Forecast future increases
- Use the official State Pension forecast service to see how your pension will evolve under different scenarios.
- Stay alert to official announcements
- Final confirmation of the increase depends on official inflation, wage data, and government decisions.
- Consider deferring
- If you delay claiming your pension, you can get a higher weekly amount later.
- Seek financial advice
- If you have a mixed pension structure, a retirement or pensions adviser can help you understand complex components.
The headline prediction of a £241-a-week State Pension under the triple lock is stirring excitement — but not all older state pensioners will benefit fully, especially those under legacy or protected arrangements.
The increase hinges on updated wage growth data, which shifts how the boost is applied across different components.
FAQs
Why do some pensioners get “protected payments” and how does that affect the boost?
Protected payments are legacy pension amounts tied to prior systems or guarantees. They may not scale in the same way under the triple lock, so you might not receive the full boost on those parts.
Can I get the “free £241” payment if I defer claiming my State Pension?
Possibly. Deferring your pension can increase your weekly amount later, but whether you get full benefit depends on how much of your pension is eligible for the wage-driven increase.
Will this affect pensioners who already receive extra benefits, like Pension Credit?
Yes—if your pension increase is smaller, your total income rises less, which could affect means-tested benefits. It’s crucial to check how all income sources interact.