Andy Burnham has confirmed the triple lock boost, giving older state pensioners a bumper £9,855 a year from April 2027. The new Prime Minister, along with Chancellor John Healey, promised to retain the state pension triple lock, which increases pension payments automatically each year.
Triple lock retained despite warnings
This pledge stands despite repeated warnings from the Office for Budget Responsibility and the Tony Blair Institute, among others, that the triple lock is 'unsustainable'. The policy guarantees at least a 2.5% boost to DWP payments from April 2027. If inflation or wage growth are higher, the increase will match the highest of the three metrics.
For older state pensioners, even a 2.5% boost would represent an extra £240.37 a year, bringing the annual total to £9,855.17 for a pre-2016 state pensioner with a full National Insurance record.
Current state pension amounts
Currently, the basic state pension for those who reached pension age before 2016 is worth £9,614.80. So even a 2.5% rise gives older pensioners an extra £240.37 per year, not including additional uplifts such as Second State Pension or SERPs.
It was confirmed that the triple lock will give a £575 increase to new state pensioners from April 2026, based on average earnings growth of 4.8% – higher than inflation and the 2.5% minimum floor. Older pensioners also received the same 4.8% boost, but because their basic pension is lower, the total increase is smaller. Their payments rose from £176.45 to approximately £184.90 per week, while new state pensioners saw theirs increase from £230.25 to £241.30 per week.
Burnham defends triple lock
Earlier this month, Burnham said it is “important” to continue the Labour manifesto commitment to maintain the triple lock. In an online Q&A, user Masam10 asked if it is time to abolish the triple lock. Burnham replied: “I appreciate there’s a lot of debate about this but it is important that the commitment in the manifesto stands.”
