Glossary · UK
What is Triple Lock?
The government commitment to increase the New and Basic State Pension each April by whichever is highest: average earnings growth, CPI inflation, or 2.5%.
Full Definition
The Triple Lock is a policy commitment, in place since 2011, that the New State Pension and Basic State Pension are uprated every April by whichever is the highest of three measures: the growth in average earnings (measured over the preceding May-July period), the rate of CPI inflation (measured in the preceding September), or a floor of 2.5%. The intention is to ensure pensioner incomes keep pace with, or exceed, wages and prices over time, rather than being eroded by a single flat annual increase. For April 2026, the New State Pension rose by 4.8%, reflecting the earnings measure being the highest of the three that year, taking the full New State Pension to £241.30 per week (£12,547.60 a year) and the Basic State Pension to £184.90 per week. Because the earnings or inflation figure varies year to year, the actual percentage rise under the Triple Lock changes annually, and it has periodically been the subject of political debate over its long-term affordability as the state pension bill grows relative to the wider economy.