Overview
- Prime Minister Andy Burnham announced at the Labour conference on Tuesday that the state pension’s earnings link will be removed, turning the long-standing triple lock into a double lock from 2030.
- The change is conditional on voter approval at the next general election and is presented by the government as a way to generate savings to help pay for a national free social care scheme.
- Next year’s April 2027 rise is unaffected and is expected to follow wage growth, with the full state pension projected to increase by about £489 from April.
- Campaigners and financial experts called for clear transition rules and impact assessments, warning the removal of the earnings link could let pensions fall behind average wages over time.
- Those born before 1964 will be reaching or at state pension age when the change begins, creating immediate cohort effects, and commentators urged the government to explain how any savings will cover care costs and protect pensioner incomes and tax thresholds.