Overview
- ONS earnings growth of 4.8% is the highest triple-lock measure, setting a 2026/27 uprating that would lift the full new state pension to about £241.30 a week and the basic rate to £184.90.
- Rachel Reeves is expected to confirm the rise at the 26 November Budget, and a government spokesperson says the commitment to the triple lock is unwavering.
- The two-tier system means annual cash gains differ, with reports pointing to about £575 for recipients of the full new pension and roughly £440 for those on the basic rate.
- Fiscal strains are driving calls for change, including a live petition to scrap the policy and an Intergenerational Foundation proposal to switch to inflation-only increases for five years, citing OBR forecasts of £15.5bn a year by 2029–30.
- About 453,000 UK pensioners living in countries without reciprocal agreements will not receive the uprating, a long-running issue highlighted by the End Frozen Pensions campaign.