Three runners. Prices. Workers' pay. And your State Pension. Watch who keeps up under the new triple lock from 2030.
2049Finish line
New triple lock
Prices
🛒
Workers' pay
👷
State Pension
🧓
🛒 Priceswhat £100 of shopping costs
👷 Workers' paywhat £100 of pay grows to
🧓 State Pensionwhat £100 of pension grows to
Commentary
This is a made-up example over 20 years, with a jump in prices and a slow patch for pay. It is not a forecast. It shows how the rules work.
What the race shows
🛒
The pension always beats prices.Every year it goes up by at least as much as prices, and at least 2.5%. So what your pension can buy keeps growing.
👷
The pension keeps level with workers' pay.Under the new rule, pensions grow as much as pay has grown since 2030. If prices jump, pensions go up straight away. Then they wait for pay to catch up. If pay falls behind, pensions still go up 2.5%.
🧓
Under the old rule, pensions run off ahead of pay.The old rule takes the biggest rise each year. After a jump in prices, it pays out twice: once for prices, then again when pay catches up. Over time that gets more and more costly. Try the "Old triple lock" button to see it.
The race follows the new rule as explained by the Institute for Fiscal Studies: How will the new triple lock work? Your rises in April 2027, 2028 and 2029 follow the triple lock you have now. The new rule starts in April 2030. The law has not been passed yet, so details could change.