Brief

Labour to tweak triple lock from 2030, tying pensions to earnings

The plan aims to keep pensions sustainable while funding a new National Care Service.

By Felo News Desk · Published Tue, 29 Sep 2026 22:07:00 GMT

Prime Minister Andy Burnham announced that Labour will modify the state pension triple lock from April 2030, ensuring pensions rise at least with CPI inflation or 2.5% and allowing higher increases when linked to average earnings, the Independent reported.

Burnham said the change will help fund a new National Care Service in England and keep pensions "holding their value relative to earnings over time so that pensioners will always share in the rising prosperity of the nation".

Retirement specialist Adam Cole of wealth manager Quilter warned that while the triple lock has improved living standards, demographic pressures and rising costs make its long‑term affordability uncertain.

Key facts

• Labour will adjust the state pension triple lock from April 2030. (independent.co.uk)
• The revised formula will keep rises at least at CPI inflation or 2.5% and may exceed that if earnings growth is higher. (independent.co.uk)
• Burnham linked the reform to funding a new National Care Service in England. (independent.co.uk)
• Adam Cole said the triple lock has improved pensioner standards but raises sustainability concerns. (independent.co.uk)

Sources

• [1] independent.co.uk — originally reported as “Triple lock overhaul ‘could help make state pensions more sustainable’”