Andy Burnham confirms £312 extra in state pensioner bank accounts when he becomes Prime Minister

Andy Burnham, the Labour Party's Prime Minister-in-waiting and new MP for Makerfield, has confirmed that state pensioners will receive an additional £312 per year when he takes office, as the government commits to maintaining the triple lock.

Speaking during a Reddit ask-me-anything session, Burnham said he would honour the triple lock commitment made in Labour's 2024 manifesto. Under this policy, the state pension will rise by a guaranteed minimum of 2.5 per cent from April, increasing the full state pension from its current £241 per week to £247.30. This equates to approximately £6 extra per week, or £312 annually for pensioners receiving the full amount.

Acknowledging political debate surrounding the commitment, Burnham stated: "I appreciate there's a lot of debate about this but it is important that the commitment in the manifesto stands." He described calls to scrap the triple lock as a fair challenge but insisted the manifesto commitment must be honoured.

The triple lock, introduced by the Conservative and Liberal Democrat coalition government in 2010 under then-pensions minister Sir Steve Webb, guarantees that the state pension rises annually by whichever is highest among inflation, average earnings growth for working people, or 2.5 per cent. The policy is designed to ensure the value of the state pension is not eroded by increases in the cost of living or working people's earnings.

Burnham's commitment follows Chancellor Rachel Reeves' previous confirmation that the Labour government would maintain the triple lock throughout the current Parliament. Public support for the policy remains strong, with 66 per cent of UK adults in favour of keeping the triple lock and only 14 per cent against it.

However, the policy has faced scrutiny from the Institute for Fiscal Studies, which argues that while the triple lock has helped improve pensioner living standards, a more sustainable approach based on a smoothed earnings link could be implemented after the next election.