What does the new financial year mean for me?

If you’re getting a State Pension, you’ll see an 8.5% rise in the weekly rate from 8 April:

• if you’re getting the basic State Pension, the full rate has increased from £156.20 a week to £169.50
• if you’re getting the new State Pension, the full rate has increased from £203.85 a week to £221.20.

Not everyone receives the full amount.

Not sure which system you’re claiming under? Read our factsheet Understanding your State Pension.

If you’re getting Pension Credit, the weekly rates have also increased:

The State Pension age is now the same for all genders. It is currently 66 and will increase to 67 between 2026 and 2028. Further increases are planned after that. If you want to know when you’ll reach State Pension age, visit gov.uk/state-pension-age.

The lifetime allowance – the maximum amount you could build up without having to pay extra tax charges – was abolished in 2023.

If you’re claiming Attendance Allowance – the disability benefit for people who have reached State Pension age – the increased weekly rates for 2024/25 are:

If you’re claiming Personal Independence Payment (or Adult Disability Payment in Scotland) – the disability benefit you can start claiming when you’re under State Pension age – the increased weekly rates for 2024/25 are:

If you’re claiming Disability Living Allowance – gradually being replaced by Personal Independence Payment – the increased weekly rates for 2024/25 are:

Carer’s Allowance – and Carer Support Payment in Scotland – has increased from £76.75 to £81.90 a week for 2024/25. The weekly earnings limit has increased to £151.00.

If you’re caring for someone and you aren’t claiming this benefit, read our information on carers' benefits to find out more about who qualifies.

The Personal Allowance – the amount you can earn before you start paying tax – remains at £12,570 a year. This is the same in England, Scotland and Wales.

Marriage Allowance

This lets you transfer part of your Personal Allowance to your husband, wife or civil partner if you’re on a low income and they earn more than you. The amount you can transfer remains at £1,260.

If you’re in Scotland, the higher earner must usually have an income between £12,571 and £43,662 and pay the relevant rates of income tax.

Blind Person’s Tax Allowance

If you’re registered blind or severely sight impaired, you can claim Blind Person’s Tax Allowance, which adds an extra amount to your Personal Allowance. This has increased to £3,070 for 2024/25. To find out if you qualify, visit Gov.uk.

National Insurance

If you are below State Pension age and in work, you will pay National Insurance contributions on earnings above £12,570 a year.

If you are State Pension age, you do not usually have to pay National Insurance.

You can read more about Income Tax rates and Personal Allowances and National Insurance on the government website.

If you’re paying into an ISA, the savings limit remains unchanged at £20,000 for 2024/25.