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Tue, 15 Sep 2026

Tue, 15 Sep 2026 What is the triple lock and how much is the state pension worth?

The triple lock guarantees that the state pension is not overtaken by inflation or wage increases.

* The flat-rate state pension will increase from £12,547.60 to £13,036.40 per year.
* The old basic state pension will increase from £9,614.80 to £9,989.20 per year. The rise is due to a 3.9% increase in wages, which is the highest of the three measures used in the triple lock system (inflation, wage increases or 2.5%).
* The new state pension age has started increasing from 66 to 67.
* Almost 13 million people currently receive the state pension. The rise in state pension age is expected to save the Treasury £10bn a year by 2030, but charities have warned that it will disproportionately affect areas of the UK where life expectancy is lower, and those on lower incomes.