Andy Burnham says state pension changes mean pensioners "will always share in the rising prosperity"

Labour leader and prime minister Andy Burnham has announced changes to how UK state pensions will rise from April 2030, as part of funding for social care reforms. The existing triple lock sets annual April increases at the highest of average earnings growth, September inflation, or 2.5%. Burnham said the triple lock would remain for this Parliament, then be adjusted so payments increase by at least inflation or 2.5%, with larger rises possible to keep pace with average worker pay. The Institute for Fiscal Studies said pensions would still grow in real terms but more slowly, eventually matching average employees’ earnings growth, and described the 2.5% floor as lacking a clear rationale and possibly expensive, especially when inflation is low. He presented the shift as preserving pensioners’ standing relative to workers over time.