Reform to support state pension triple lock despite 'long-term sustainability' concerns

Patrick O'Donnell
Thu, 02 Apr 2026 06:27:27 +0000

Reform UK is set to pledge its commitment to the state pension triple lock despite the party's leader, Nigel Farage, previously questioning the policy.

Introduced by the Conservative-Liberal Democrat coalition Government in 2010, the triple lock is the mechanism used to uprate state pensions annually

Under the triple lock, state pension payments rise every year by either the rate of inflation, average wage growth, or 2.5 per cent; whichever is highest.

Concerns have been raised about the long-term affordability of the policy, with the Office for Budget Responsibility (OBR) warning the triple lock will cost £10billion a year more than initially forecast.

Despite this, it is understood that the party will commit to keeping the triple lock in place for the foreseeable future, joining both Labour and the Conservatives.

Reform sources told The Times that this decision would hurt the Tories chances in May's upcoming local election with Conservative Party leader Kemi Badenoch previously making a similar announcement.

This policy development represents an apparent win for the party's Treasury spokesperson, Robert Jenrick, who has brought Reform's fiscal policy closer to the mainstream.

Earlier this year, Mr Farage asserted that the triple lock's future was "open for debate", however did not commit to scrapping or keeping the policy.

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Notably, this stance contradicts comments made by Reform MP Richard Tice, who told LBC's Andrew Marr that the triple lock will not be guaranteed if the party wins the next General Election.

Last year, Mr Tice said: "On a number of occasions, Nigel has clearly said that we're not guaranteeing the triple lock. The nation's finances are in serious trouble, and nothing's affordable.

"That's what we've said before, and we continue to say that we can't guarantee it because we know the nation's finances are in a shocking state.

"We'd all love to be able to pay as much as possible. We can only know where we're at when we start to make major savings as we've talked about. But we're not guaranteeing the triple lock."

This month, retirees in receipt of the full, new and basic state pension are in line to receive a £574.50 and £439.40 yearly boost to their payments, respectively.

Mike Ambery, the retirement savings director at Standard Life, part of Phoenix Group, said: "The commitment to keep the triple lock stays, for now, but there are significant questions around its long-term sustainability.

"The state pension is funded by the workers of today, and its costs are set to swell over the coming years as more of our ageing population reach state pension age.

"Any future reforms or changes to the triple lock will need to carefully balance its long-term affordability with the sizable political risks associated with changing a policy affecting millions of people."