Prime minister to legislate end of state pension triple lock during this parliament

Andy Burnham has told delegates at his conference that he will bring forward legislation in this parliament to end the state pension “triple lock.” The prime minister said the guarantee — which ensures the state pension increases by the highest of 2.5%, inflation or average earnings growth — will remain in place until 2030, but MPs will be asked to vote on changes before the next general election.

Why the move matters

The triple lock is a high-profile element of the state pension system. Under it, annual pension increases are set at the highest of three measures: 2.5%, inflation or earnings growth. Burnham’s announcement signals the government intends to change the mechanism that determines how the state pension rises in future, and to do so through primary legislation during the current parliamentary term.

What the government has said

According to the statement made at the party conference, the guarantee that pensions will increase by the triple lock will remain formally in place until 2030. However, the prime minister told delegates he will introduce a bill so MPs can vote on altering the policy while this parliament continues.

What we know and what remains open

The sources agree that Burnham announced both the intention to pass legislation in this parliament and that the triple lock guarantee will formally continue until 2030. Details beyond that — such as the specific replacement mechanism, the timing of any vote, or how changes would affect particular cohorts of pensioners — were not set out in the conference remarks reported.

Context and next steps

Because the government plans to take the change through Parliament, MPs will have the opportunity to consider and vote on any proposed replacement or amendment to the current triple lock arrangements. The announcement at the conference is the first public indication from the prime minister that the government will pursue statutory change to the state pension uprating rule within this parliamentary term.

Observers and stakeholders will be watching for the government’s legislative timetable and the content of any bill. The absence of further detail in the conference statement means questions remain about the proposed alternative to the triple lock and how the government will justify and implement the change for pensioners once the guarantee formally expires in 2030.