Rachel Reeves should scrap the state pension ‘triple lock’ and replace it with a link to workers’ wages, Britain’s leading economic think-tank has said.

The Institute for Fiscal Studies (IFS) said the policy makes it harder to plan public finances – and benefits better-off pensioners far more than the poorest.

Under the triple lock , which took effect in 2011, the state pension increases each year in line with consumer price inflation (CPI), growth in average earnings or 2.5 per cent – whichever is the highest. New Feature

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CPI figures to be published on Wednesday are almost certain to confirm that the increase from April 2026 will be 4.8 per cent. This was the level of wage growth from May to July this year – the window used to cal

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