UK Pension News & Insights

Queen’s Speech Reconfirms State Pension Triple-Lock

01 June, 2015

The Queen’s Speech on 27 May 2015 reconfirmed the government’s commitment to the UK state pension remaining “triple-locked” until the end of this Parliament in 2020. This means that a person’s UK state pension will increase annually by the highest of earnings growth, inflation or 2.5 percent.

The Department of Work and Pensions has also confirmed that the triple-lock will apply to the new flat rate state pension that will be introduced in April 2016.