The pension triple lock is a safeguard that applies to the UK state pension to ensure it doesnt lose value because of inflation. It was introduced in 2010 by the Conservative-Liberal Democrat coalition government to guarantee that the state pension would not lose value in real terms and that it would rise at least in line with inflation. Under the triple lock system, the state pension increases each April in line with whichever of these three measures is highest: inflation, as measured by the Consumer Prices Index in the September of the previous year, the average increase in wages across the UK, or 2.5%. The triple lock applies to both the basic state pension (pre-April 2016) and the new state pension (post-April 2016) to ensure that they keep pace with the cost of living. If the triple lock is kept in place, the state pension could potentially be worth between £10,900 to £13,400 per year by 2050 in today’s terms, according to estimates from the IFS – an additional £45 billion. The current Conservative government has pledged to keep the triple lock in place until at least 2024, and opposition parties, including Labour, also support the policy.