The state pension is on course to rise 3.9% next April, as wage growth far outpaced September’s inflation figures. Of about 13.3 million DWP state pension recipients, only three million will get the full triple-lock increase, which equals £489 for full new state pension claimants, while around 10 million will not. The 2.3 million people on reduced new state pension payouts, often due to contracted-out schemes or insufficient National Insurance contributions, will see smaller rises, and about 420,000 people living abroad will have their rates frozen. The DWP said £489 is only an example, since the actual increase depends on each person’s entitlement and National Insurance record.
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GBP/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/21/2026 | 1.33943 |
| Change that session | +0.11% |
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Andy Burnham has pledged to replace the state pension triple lock after the 2030 general election, if he wins. The current triple lock raises pensions by the highest of inflation, earnings growth or 2.5%; Burnham wants to drop the earnings link and replace it with an undefined alternative, which critic Ros Altmann says removes the most important part of the mechanism. Using current figures, September CPI of 3.5% against earnings growth of 3.9% in the three months to July means the full new state pension would rise by about £489 to about £13,068 next April, whereas under Burnham's system the rise would be the 3.5% inflation uplift, about £50 a year less, with losses compounding over time.
- Andy Burnham triple lock threat exposed - now we know what it will cost state pensioners
Andy Burnham has pledged to replace the triple lock after the 2030 general election, dropping the earnings link that currently raises the state pension by the highest of inflation, earnings growth or 2.5%. The columnist calls the proposed replacement vague and argues the triple lock was introduced in 2011 to stop pensions falling behind wages. Under the proposed system, September's 3.5% inflation rate would be used instead of 3.9% earnings growth, leaving pensioners around £50 a year worse off than the triple lock's expected rise of about £489, with losses compounding over time. The columnist argues the earnings link should be the last part sacrificed, not the first.
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