Policy change announced at conference
Prime Minister Andy Burnham used his conference speech to say he will bring forward legislation in this parliament to abolish the state pension triple lock. The government said the guarantee protecting annual pension increases will continue to operate until 2030, but a vote on altering the policy will take place before the next general election.
What the triple lock means
The triple lock is the mechanism that ensures the state pension rises each year by the highest of 2.5%, inflation, or average earnings growth. Burnham's announcement signals an intention to remove that statutory guarantee, while preserving its effect for the remainder of the current guarantee period.
Parliamentary timetable and process
Government officials indicated MPs will be asked to approve the change during this parliamentary term. Details on the timing of the bill, its exact provisions and any transitional arrangements were not provided in the announcement, with ministers saying the guarantee will remain in force through to 2030.
Political and fiscal context
The move represents a significant adjustment to a long-standing pension policy and is likely to prompt scrutiny from opposition parties and pensioner groups. The government framed the step as a planned legislative change while maintaining the existing guarantee for the next several years, leaving the parliamentary vote as the decisive moment for implementation.