Government defeats Lords' bid to save triple lock

The state pension is now set to rise 3.1%

Jenna Brown
clock • 3 min read
Baroness Ros Altmann
Image:

Baroness Ros Altmann

MPs have rejected amendments put forward by members of the House of Lords that would have retained the state pension triple lock following “fiery” exchanges in the House of Commons.

The state pension triple lock will now be suspended for a year as planned to prevent a 8.3% increase based on ‘artificially high' earnings growth brought about by the pandemic. The double lock...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Pension communications fail to cut through, says survey

Pension communications fail to cut through, says survey

Almost half of those polled cannot recall a pension communication in the past year

Alex Levy
clock 31 July 2026 • 2 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

UK scale-up fund, Schroders repositions UK institutional team and WTW longevity swap solution

Professional Pensions
clock 31 July 2026 • 1 min read
HMRC reports jump in cost of pension tax relief

HMRC reports jump in cost of pension tax relief

Data shows pensioners are also paying more tax in retirement

Alex Levy
clock 30 July 2026 • 2 min read
Trustpilot