State pension triple lock
UK rule raising state pension yearly by the highest of inflation, earnings growth or 2.5%.
As of October 2026, the State pension triple lock raises pensions each year by the highest of inflation, average earnings growth or 2.5%.
Last refreshed: 22 October 2026 · Appears in 1 active topic
Timeline for State pension triple lock
Targeted for a three-year suspension in the IEA plan
Is Britain Actually Broke?: IEA plan would suspend triple lockBackground
The UK applies the State pension triple lock to annual pension uprating. It selects the highest of price inflation, average earnings growth or 2.5%. Because the winning measure can change each year, the rule links pension increases to both living costs and wages while retaining a minimum rise.
Parliament can alter the formula. For the April 2022 increase, legislation replaced the earnings test with prices while retaining the 2.5% floor. The Office for Budget Responsibility has treated the rule as a long-term spending driver because gains above earnings compound over time. In October 2026, the Institute of Economic Affairs proposed suspending it for three years, placing the rule back inside the Budget argument over spending choices. The proposal was a policy pitch, not an official forecast or an enacted change.
What is the state pension triple lock?
How much does the triple lock cost?
Has the triple lock ever been suspended?
Who wants to suspend the triple lock?
How will the triple lock affect pension spending in the long run?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 22 October 2026. Editorial standards.