What is the triple lock? How the State Pension rises each April.
The triple lock raises the full State Pension each April by the highest of earnings growth, inflation or 2.5%. Here is how it works, what set recent increases, and the change the 2026 Budget announced for the next Parliament.
- ▸Each April the full new and basic State Pension rise by the highest of earnings growth, CPI inflation or 2.5%.
- ▸In April 2027 earnings growth sets the rise: 3.9%, taking the full new State Pension to £250.70 a week.
- ▸Additional State Pension and protected payments normally rise with CPI instead.
- ▸The 2026 Budget said the triple lock will be adjusted from the next Parliament so the State Pension tracks earnings over time. That needs legislation.
How the triple lock works
Each autumn the government reviews the State Pension. From the following April, the full new State Pension and the full basic State Pension rise by whichever is highest:
- Earnings growth: the increase in average earnings, normally measured over May to July.
- Inflation: the Consumer Prices Index (CPI) in the 12 months to September.
- 2.5%.
The triple lock is a government policy commitment rather than one single rule in law. Parliament can change how a year's increase is worked out, as it did in 2021.
Recent April increases
| April | Full new State Pension a week | Rise | CPI that year | What set the rise |
|---|---|---|---|---|
| 2022 | £185.15 | 3.1% | 3.1% | Inflation (CPI); the earnings element was suspended for this year |
| 2023 | £203.85 | 10.1% | 10.1% | Inflation (CPI) |
| 2024 | £221.20 | 8.5% | 6.7% | Earnings growth |
| 2025 | £230.25 | 4.1% | 1.7% | Earnings growth |
| 2026 | £241.30 | 4.8% | 3.8% | Earnings growth |
| 2027 | £250.70 | 3.9% | 3.5% | Earnings growth (announced) |
The rise matches CPI in 2022 and 2023. From 2024 onwards earnings growth was higher than both CPI and 2.5%. The 2027 row uses the confirmed new rate; DWP's 2027/28 rates statement will confirm the CPI figure for Additional State Pension.
The 2022 suspension
For the April 2022 increase, the Social Security (Up-rating of Benefits) Act 2021 required the review to use "the general level of prices" instead of earnings, with a 2.5% floor. The State Pension therefore rose by 3.1%, in line with CPI, rather than by earnings growth.
What the 2026 Budget changes
The Budget on 28 October 2026 said the government will "adjust the Triple Lock from the next Parliament". In its words:
- the adjustment "removes the 'ratchet' effect, whereby the State Pension rises ever higher relative to earnings";
- after the change, "the State Pension will track earnings over time";
- the government estimates it will "reduce State Pension spending by £15 billion a year by the late 2030s".
The Budget presents this as part of a wider package for older people that includes free personal care and a National Care Service in England. It does not change the April 2027 increase. The adjustment would need legislation, and its detail and timing could depend on the next Parliament.
What the triple lock does not cover
- Additional State Pension and protected payments: these normally rise with CPI, so a total old-system pension can rise by a different percentage from the basic rate. See new vs old State Pension.
- Pension Credit: it has its own uprating rules. The 2027/28 rates have not been published yet.
- Your own amount: the triple lock raises the rate, but your amount still depends on your National Insurance record. See how much the State Pension is or use the State Pension forecast calculator.
For the cash effect in April 2027, see the April 2027 State Pension increase.
- ▸The Budget will "adjust the Triple Lock from the next Parliament"; afterwards "the State Pension will track earnings over time". [GOV.UK Budget 2026]
- ▸For the April 2022 increase, the review used prices instead of earnings, with a 2.5% floor. [Social Security (Up-rating of Benefits) Act 2021, s.1]
- ▸Full new State Pension rates: £179.60 (2021/22), £185.15, £203.85, £221.20, £230.25 and £241.30 (2026/27). [GOV.UK benefit and pension rates]
- ▸From 6 April 2027 the full new State Pension is £250.70 a week. [GOV.UK Pension Tax Allowance explainer]
Triple lock questions
What is the triple lock?
It is the government's commitment to raise the full new and basic State Pension each April by the highest of earnings growth, CPI inflation or 2.5%.
Is the triple lock being scrapped?
Not in this Parliament. The 28 October 2026 Budget said the government will adjust the triple lock from the next Parliament so that the State Pension still rises every year but tracks earnings over time, removing the 'ratchet' effect. The change would need legislation.
What will the State Pension rise by in April 2027?
By 3.9%, set by earnings growth. The full new State Pension goes from £241.30 to £250.70 a week.
Does the triple lock apply to all of my State Pension?
It applies to the full new and basic State Pension rates. Additional State Pension (SERPS or State Second Pension) and protected payments normally rise with CPI instead.
Has the triple lock ever been suspended?
Yes. For the April 2022 increase, the Social Security (Up-rating of Benefits) Act 2021 replaced the earnings measure with prices for that year, so the rise was 3.1%, in line with CPI.