Triple lock has lifted state pension 14% above earnings-only level

The analysis showed that £100 of state pension in 2010 would have grown to £189.37 by April 2026 under the triple lock. If it had instead been increased by earnings alone, it would have reached £165.72. The researchers also modelled what would have happened if the pension had been linked solely to inflation or increased by 2.5% each year. Under those scenarios, £100 would have grown to: £165.72 with earnings-linked increases £160.22 with CPI inflation £148.45 with annual increases of 2.5% £189.37 under the triple lock The figures illustrate the so-called "ratchet eff...