Burnham pledges to maintain triple lock
Andy Burnham has signalled he will keep the state pension triple lock in place if he becomes Prime Minister, potentially delivering an extra £352 a year to pensioners. The former Greater Manchester Mayor's commitment comes amid growing debate over the sustainability of the policy.
How the triple lock works
The triple lock ensures the state pension rises annually by the highest of inflation, wage growth, or 2.5%. With current inflation at 2.8%, this could be the determining factor for the next increase. The full new state pension, for those retiring after 2016, currently stands at £12,547 per year. A 2.8% rise would bring it to £12,899, a boost of £352. The older basic state pension is worth £9,614 annually.
Calls to scrap the policy
The triple lock has faced criticism for being too expensive and unsustainable. A recent report by the Resolution Foundation urged the government to ditch it. However, Burnham has indicated no changes under his leadership. Labour is committed to the triple lock at least until the end of this Parliament in 2029. Scrapping it would be politically explosive, and Burnham aims to avoid the backlash Keir Starmer faced after cutting Winter Fuel Payments early in his tenure.
