Be prepared for changes to pensions

This year marks some big changes to your retirement planning, so read on to find out what's ahead. By LEVI WINCHESTER

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There are big changes coming in 2026 for anyone claiming a state or private pension. The state pension is paid by the government, with how much you get being based on your national insurance record. Private pensions are savings you build with your own contributions. This is normally done through a workplace scheme or a personal pension that you set up yourself. Here is what you need to be aware of.

STATE PENSION RISING

The triple lock guarantees the state pension goes up every April in line with whichever is highest out of earnings growth between May to July, inflation in September, or 2.5%.