Time is right for 'proper debate' on future of state pension triple lock

Triple lock policy ‘never intended to last forever’

Jenna Brown
clock • 3 min read

The time is right for a proper debate about what level of state pension is fair and affordable, according to Royal London, ahead of the second bumper increase in payments under the triple lock policy.

Director of policy and communications Jamie Jenkins said having an annual debate about the triple lock, its application and affordability is "unhelpful for people trying to plan their retirement". Neither the Conservatives or Labour have fully committed to long-term retention of the triple lock on state pensions - which sees state pension increases in line with the highest of September's inflation figure, seasonally adjusted pay growth for the three months to July, or 2.5%. There was a bumper increase for pensioners in 2023 with the prospect of another in 2024. Royal London explain...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Salary sacrifice change to 'hit' more than three million workers

Salary sacrifice change to 'hit' more than three million workers

Government releases impact assessment

Jen Frost
clock 05 December 2025 • 3 min read
Andrew Tully: Plummeting pensions confidence is 'siren call' for wide-reaching action

Andrew Tully: Plummeting pensions confidence is 'siren call' for wide-reaching action

'We're seeing a deep erosion of trust in the retirement system'

Andrew Tully
clock 05 December 2025 • 3 min read
When is a SIPP not a SIPP? Time for a terminology rethink

When is a SIPP not a SIPP? Time for a terminology rethink

'I would suggest that it’s time to review the use of the term SIPP,'

Caitlin Southall
clock 01 December 2025 • 4 min read