{
  "id": 10728632,
  "title": "End of triple lock: What is the double lock and will it work?",
  "url": "https://urgent.news/2026/09/29/end-of-triple-lock-what-is-the-double-lock-and-will-it-work",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-29T16:15:47.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/end-of-triple-lock-what-is-the-double-lock-and-will-it-work/"
  },
  "original_language": "en",
  "account": "Labour leader Andy Burnham has proposed switching the triple lock on state pensions to a double lock in his party's next manifesto. This change would take effect in April 2030 if Labour wins the next general election. The proposed double lock would see the state pension increase annually by either inflation or 2.5 percent, whichever is higher. This move aims to save the government around £4.5 billion per year and help fund Burnham's proposed National Care Service. Critics argue that the switch will not be enough to fully fund the ambitious social care plans, as the cost of the state pension would still rise by over £15 billion annually by 2030. Rachel Vahey, head of public policy at AJ Bell, stated that scrapping the triple lock guarantee and introducing a social care system are two different policies that do not match up well. Jonathan Cribb, deputy director of the Institute for Fiscal Studies, added that the savings from this reform are likely to be modest in the first few years but could generate significant savings in the long run. However, there are concerns that removing the explicit annual earnings measure from the formula could leave the government reliant on multi-year reviews and potentially expensive if no cap or control mechanism is in place. Industry figures argue that the change is a relatively modest reform that will not adequately fund the social care system.",
  "summary": "Andy Burnham has pledged to drop the triple lock on state pensions for a so-called ‘double lock’ in Labour’s next manifesto in order to pay for his new National Care Service. In an address to party members, Burnham confirmed the existing triple lock mechanism will remain in place for the remainder of this parliament before [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}