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Sunday, November 8, 2026 · UTC
The FED & the Economy

State pension triple lock proposed to remove average earnings link

Proposed changes would set annual increases to the higher of inflation or 2.5%, replacing the existing three-way guarantee.

Nadia Okonkwo
Fed & Economy Correspondent
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The longstanding state pension triple lock would drop its average earnings uplift component under proposed changes reported this week. The existing policy guarantees the pension rises each year by the highest of earnings growth, inflation or 2.5% [5].