Labour has proposed removing the average earnings growth component from the state pension triple lock, in plans announced at the party conference on 10 October 2026.

Under the existing triple lock rule, the state pension rises each April by the highest of inflation, average earnings growth, or 2.5%. The proposed reform would drop the earnings component, using only the higher of inflation or 2.5% for annual increases.

The change would come into force from 2030, should Labour win the 2029 general election. Andy Burnham has opened public feedback on the proposal.