What is the triple lock and why are people talking about it?

What is the triple lock and why are people talking about it? Speculation about the future of the triple lock arrangement for the state pension has resurfaced, with reports it could be scrapped to help fund a new plan for social care. The triple lock guarantees that the state pension goes up each year in line with either inflation, wage increases or 2.5% - whichever is the highest. Recent wage data indicates the new state pension will rise by £488 a year in April 2027 as a result of the arrangement. However, concern over how much the triple lock is costing has triggered a debate over whether it is affordable.