Saga over-50s group unaffected by triple lock changes

By the Editorial Team · Thursday, October 1, 2026

Saga reported a significant profit increase and a 22.8 percent rise in share price, forecasting annual earnings between £65 million and £70 million for 2027 despite upcoming changes to the UK’s state pension triple lock. The company’s affluent over-50 customer base, which relies less on state pensions and prioritizes leisure spending, is expected to sustain Saga’s growth amid pension policy adjustments starting in 2030.

Saga, the company serving customers over 50, reported strong financial growth and expressed confidence that planned changes to the UK’s state pension triple lock will not significantly affect its business. The announcement comes in the wake of Prime Minister Andy Burnham’s recent proposal to alter the pension uprating mechanism starting in 2030.

Under Burnham’s plan, annual pension increases will no longer be linked to wage growth but will instead rise by the highest of either 2.5 percent or inflation. This adjustment effectively removes wage growth from the calculation, a move aimed at reducing future pension expenditures.

Despite these changes, Saga’s Chief Executive Mike Hazell indicated that the company’s affluent client base demonstrates economic resilience and tends to prioritize leisure spending, including cruises, holidays, and travel insurance. Hazell emphasized that customers within this demographic typically rely less on state pensions, which lessens the potential impact of the triple lock alteration on Saga’s business model.

The company’s recent financial performance supports this optimistic outlook. Shares in Saga surged by 22.8 percent, climbing 146 pence to reach 787 pence, following the release of expected annual profits between £65 million and £70 million for the fiscal year ending January 2027. This reflects substantial growth compared to the £44.2 million reported last year and puts the company on track to surpass its £100 million annual profit target set for January 2030.

Saga’s cruise operations, which include popular routes throughout the Mediterranean and Norwegian fjords, continue to attract strong demand. Half-year results for the period ending July 31 revealed nearly doubling of profits to £46.6 million and a 12 percent increase in revenues, reaching £367.5 million.

Overall, Saga appears well-positioned to capitalize on the spending habits of its upmarket, over-50 clientele despite upcoming changes to the state pension system, with management dismissing concerns over the triple lock revision as a major factor influencing customer behavior.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.