State Pension triple lock 'replaced' update as government confirms position

It was discussed in the House of Lords on Friday13:53, 04 Sep 2026The pensions triple lock should “probably” be replaced, a Tory former senior cabinet member has said. Baroness Therese Coffey, the work and pensions secretary from 2019 to 2022, said the guaranteed 2.5% a year rise “probably seemed the right thing” when it was introduced but suggested it should be reconsidered.‌Instead, Lady Coffey, who also served as deputy prime minister, said she would prefer “some kind of double lock”. The Conservative-Liberal Democrat coalition government introduced the pensions triple lock in 2010. It guarantees that the state pension goes up each year in line with either inflation, wage increases or 2.5% – whichever is the highest.‌Addressing the House of Lords on Friday, Lady Coffey said: “I think so