Nigel Farage announced Reform UK would keep the triple lock, according to multiple reports. The commitment was made alongside treasury spokesman Robert Jenrick. The triple lock ensures the state pension rises by inflation, earnings, or 2.5%, whichever is highest. The party plans sweeping cuts to the benefits system worth tens of billions to pay for the triple lock, Reform UK said.
The Conservative Party declined to comment on their position on maintaining the triple lock, according to multiple reports. Labour has committed to keeping the triple lock for the duration of this Parliament. Chancellor Rachel Reeves previously said Labour would keep the triple lock until the end of the current Parliament. Torsten Bell, a minister, fuelled doubts about the future of the triple lock, insisting the focus should be on boosting private provision. Bell previously called to 'replace' the triple lock with a more 'sensible mechanism' during his tenure at The Resolution Foundation, according to GB News.
Public opinion on the triple lock shows strong support, according to Opinium polling. Only 6% of the public favour axing the triple lock, while 38% want it made permanent. There is a significant generational divide: 68% of baby boomers support a permanent triple lock compared to 14% of 18-29 year olds.
The prime minister should reconsider the triple lock.
The triple lock has resulted in increases significantly outpacing the rest of the economy, especially during inflation spikes, according to research. Think-tanks such as the IFS have raised concerns about the burden on the Treasury from the triple lock. In July 2025, the OBR said the cost of the triple lock is set to reach £15.5bn by 2030. The OBR also said the cost of the state pension has risen steadily over eight decades, now equating to £138bn, around half of total benefit spending.
Proposals for change include setting the state pension at a fixed proportion of average earnings, or moving to a 'double lock', according to research. Former chancellor Sir Jeremy Hunt said the prime minister should reconsider the triple lock, as reported by Daily Express - UK News. Former Bank of England chief economist Andy Haldane suggested the triple lock could be scrapped to fund defence spending. In July 2025, the IFS suggested the triple lock should be scrapped as part of a wider pensions overhaul.
The triple lock has been in place since 2011, introduced by the Conservative-Liberal Democrat coalition government in 2010. The state pension is due to go up by 4.8% from next month. The new state pension has risen by more than £500 a year as a result of the triple lock, according to research. From 6 April 2026, the new flat-rate state pension is £241.30 a week (£12,547.60 a year), up £574.60. The age at which millions can claim state pension has started to increase from 65 to 67. You generally need 35 years of qualifying NI contributions to get a full state pension. Since April 2025, you can only make voluntary NI payments for the previous six years.