Triple Lock on the State Pension

Thank you for contacting me about the Triple Lock on the State Pension.

I believe that everyone should have a decent and secure income in retirement. The triple lock means the basic State pension rises by inflation, earnings, or 2.5 per cent, whichever is highest.

From April this year, pensioners receiving the full rate of the new State Pension have received an increase of 3.9 per cent to £175.20 per week. The basic State Pension has also increased by 3.9 per cent, to £134.25 per week, and is now over £1,900 a year higher than a decade ago.

The pandemic has had a huge impact on every aspect of our lives and across every age group. I have read the suggestions that have been put forward in the press and by my parliamentary colleagues on the Treasury Select Committee. I know ensuring that older people have the security and dignity they deserve is a key priority for the Government so I will ensure they are made aware of the strength of feeling on this issue and the concerns that you have raised. 

The State Pension is supported by further measures for older people, which include the provision of free bus passes, free prescriptions, Winter Fuel Payments and Cold Weather Payments.