Is the triple lock pension guarantee sustainable?

Is the triple lock pension guarantee sustainable?

From The Briefing Room by BBC Radio 4

April 16, 2026 · 29 min

About this episode

The episode discusses the sustainability of the triple lock pension guarantee amidst rising state pensions and economic concerns.

This month retired people saw their state pensions rise by 4.8 per cent. That’s comfortably above the current inflation rate and means that some pensioners have increases this year of as much as £575. That’s because of the Triple Lock guarantee which is a formula set 15 years ago and which some economists say is costing the government too much and should be scrapped. But it’s meant that the state pension has risen over recent years, pensioner poverty is far less of a problem and not surprisingly it’s popular with voters. David Aaronovitch asks what exactly is the triple lock, can we still afford it and is there an alternative? Guests Carl Emmerson, Partner at London Economics Sophie Hale, Research Director, Resolution Foundation Steve Webb, Partner at LCP and former Pensions Minister in Coalition Government Presenter: David Aaronovitch Producers: Caroline Bayley, Kirsteen Knight, Sally Abrahams Production co-ordinator: Maria Ogundele Sound engineers: Rod Farquhar and Dave O'Neill Editor: Richard Vadon

People in this episode

Host: David Aaronovitch

Guests: Carl Emmerson, Sophie Hale, Steve Webb

Topics covered

  • pensions
  • triple lock
  • economics
  • government policy
  • pensioner poverty

Keywords

  • triple lock
  • state pension
  • pensioners
  • inflation
  • government spending

Mentioned in this episode

Organizations: London Economics, Resolution Foundation, LCP, BBC Radio 4

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