Tony Blair Institute Calls for Review of Triple Lock Pension Policy

Sat, 02 May 2026 16:08:00 +0200

The Tony Blair Institute has urged the UK government to reconsider the current 'triple lock' pension system, describing it as outdated and financially unsustainable. The triple lock guarantees that state pensions increase each year by the highest of three measures: inflation, average wage growth, or 2.5%. While the policy was designed to protect pensioners' living standards, the institute warns that rising costs and economic pressures make it increasingly unaffordable. Critics argue that maintaining the triple lock could place a significant burden on public finances, potentially affecting other areas of social spending. The report also suggests exploring alternative approaches that balance pension security with fiscal sustainability, ensuring that retirees continue to receive adequate support without straining government resources. The institute emphasizes that policy reform should be carefully communicated to avoid public backlash, and that targeted measures could help protect the mos