Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, whether his Department has made an estimate of the cost of the pensions triple lock for each of the next ten year.

Expenditure on State Pension, which includes triple lock, for the years up to and including 2029/30 is available in the Benefit Expenditure and Caseload tables.

Beyond 2029/30, the Office for Budget Responsibility project State Pension expenditure as part of their Fiscal risks and sustainability report. This assumes long-term annual growth rates of 4.4% for ‘Triple Lock’, and 3.8% for Average Earnings.

Source: OBR September 2024 Fiscal risks and sustainability – charts and tables: supplementary tables, Table 1.1