Category: Triple lock

  • State Pension, inflation, and the timing lag

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    The State Pension increases annually in April. The size of the increase is decided using measures from the previous year under the triple lock, the highest of: For 2026 to 2027, the new State Pension will increase by 4.8%, in line with average earnings growth for May to July 2025. That increase applies from 6…

  • We can’t debate costs till we determine meaning

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    This FT article on European state pensions describes rising costs, ageing populations and repeated political failure. But I think we need to dig a little deeper and reflect on the original purpose of the system before contemplating change. State pensions were created to prevent poverty in old age and they still provide that value today. For…

  • Is the triple lock a red herring?

    The triple lock gets a lot of bad press. It’s been cast as the main villain in State Pension cost rises, by being a supposedly unsustainable ratchet, cranking up the pension bill year after year. But while the triple lock has become more expensive than expected, it’s not the only, or even the biggest, driver…