Triple lock has lifted state pension 14% above earnings-only level

Chancery Lane analysis illustrates so-called ‘ratchet effect’

Isabel Baxter
clock • 2 min read
Triple lock has lifted state pension 14% above earnings-only level

The state pension is about 14% higher than it would have been if it had been increased in line with earnings alone since 2010, according to analysis from retirement income research firm Chancery Lane Research.

The analysis showed that £100 of state pension in 2010 would have grown to £189.37 by April 2026 under the triple lock. If it had instead been increased by earnings alone, it would have reached...

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