Overview
- After a City of London speech, newly appointed Treasury spokesperson Robert Jenrick said he has "always been a supporter" of the triple lock and pledged to protect pensioners.
- Hours later, Nigel Farage told reporters the pension uprating mechanism remains "open for debate" and that he has not changed his mind.
- Reform has not confirmed a formal position, with Jenrick indicating the party will set out details in the coming days.
- The Office for Budget Responsibility estimates the triple lock will add about £15.5bn a year to the state pension bill by 2029–30 after costing far more than first expected.
- The Labour Government has pledged to retain the guarantee until at least the end of the current Parliament.