Senior Labour figures have suggested the state pension triple lock could be reformed to help fund a long-promised overhaul of England's social care system, raising fears the policy may again be in jeopardy.
The debate comes as Prime Minister Andy Burnham prepares to outline plans for a new NHS-style national care service, which ministers estimate could cost around £18 billion a year. While Burnham has pledged to honour Labour's manifesto commitment to retain the triple lock during this Parliament, pressure is growing over how the ambitious programme can be paid for in the long term.
What is the triple lock?
The triple lock guarantees that the state pension rises each year by whichever is highest: inflation, average earnings growth or 2.5%. It has been credited with helping protect pensioners' incomes since it was introduced in 2010, but critics argue the policy is becoming increasingly expensive for the Treasury.
Former chief secretary Darren Jones suggested reforms may need to be considered if the Government is serious about delivering sweeping social care changes. Speaking to the BBC, he described the triple lock as "very expensive in the years ahead" and suggested money currently spent on pension increases could potentially be redirected towards supporting older people through improved social care.
Former minister calls for end to policy
Former work and pensions secretary Lord Blunkett has gone further, arguing there is a strong case for ending the policy altogether. He suggested scrapping the triple lock could save as much as £22 billion by 2030.
The intervention is likely to alarm millions of pensioners, particularly after it emerged that next year's state pension increase is expected to be driven by earnings growth of 3.9%, adding almost £500 a year to the full new state pension from April 2027.
Government insists no changes planned
Ministers insist no changes are planned during the current Parliament. Health Secretary Wes Streeting has pointed to Labour's election pledge and said the Government remains committed to the triple lock.
But with social care reform back at the top of the political agenda and mounting pressure on the public finances, questions over whether the so-called "gold-plated" guarantee can survive beyond the next election are unlikely to disappear any time soon.
