Who will miss out on the state pension triple lock?
Not all pensioners have their state pensions increased each year in line with the triple lock. We explain who misses out
Millions of state pensioners will receive a boost to their payments in April 2026, but hundreds of thousands will miss out.
The state pension will increase by 4.8% due to the triple lock, meaning the full new state pension amount will rise from £230.25 per week to £241.30 (£12,547 a year). Meanwhile, the full “old” basic state pension will increase from £176.45 per week to £184.90 per week, taking the full annual amount to £9,614.
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1. Retirees living abroad in certain countries
British pensioners living abroad in certain countries don’t have their state pension increased under the triple lock.
This “frozen state pension” policy affects about 433,000 pensioners, according to End Frozen Pensions, with 49% of these people receiving £65 per week or less.
The campaign group says the policy is an “injustice” and that those who move abroad to “frozen” countries “should not have to face financial hardship in their retirement”.
Helen Morrissey, head of retirement analysis at investment platform Hargreaves Lansdown, said: “If you retire somewhere that is not in the European Economic Area (EEA), Gibraltar, Switzerland or a country that doesn’t have a social security agreement with the UK then your state pension will be frozen.”
This means British citizens retiring in places like New Zealand, Australia and Canada don’t benefit from a yearly uplift.
“Over time this freeze can have a major impact on your standard of living so it’s important to do your due diligence before you decide to retire overseas,” Morrissey added.
2. Pensioners with additional state pension
The triple lock pledge only applies to the old basic state pension and the new state pension.
This means that if you reached state pension age before April 2016 some of the state pension you receive may not be covered by the triple lock. This is because you may have additional state pension, an extra amount of money paid on top of your basic state pension.
You may receive additional state pension if you’re a man born before 6 April 1951, or a woman born before 6 April 1953. You might also inherit it from your partner.
Jemma Slingo, pensions and investment specialist at investment firm Fidelity International, said: “While [the triple lock] will boost basic payments, the additional state pension – which is an extra top-up based on your National Insurance contributions – will simply rise in line with inflation.”
3. People who defer their state pension
The third group of people who don’t benefit from the triple lock on their whole state pension are those who defer their state pension.
Clare Moffat, pension and tax expert at pension provider Royal London, explained: “If you choose not to take your state pension when you’re entitled to, but delay, the part you defer also only rises by the Consumer Price Index [measure of inflation].”
Your state pension increases by 1% for every nine weeks you delay taking it, equivalent to 5.8% over a year, if you reached or will reach state pension age on or after 6 April 2016.
Deferring can be a good option for people who don’t need the income immediately, perhaps because they are still working or have other sources of cash. The 5.8% uplift for every year you delay could make financial sense depending on how long you live in retirement.
