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Jeremy Hunt has committed to keeping the triple lock system to decide rises in the state pension if the Conservatives win the next election.
The chancellor confirmed the policy pledge, which means the increase in the state pension is the highest of average earnings, inflation or 2.5%.
Mr Hunt told the BBC he was confident the "expensive" promise would be paid for by his plans to grow the economy.
Under the triple lock, the state pension is to rise by 8.5% in April.
Labour's Anneliese Dodds did not commit to the policy when asked to respond on the BBC's Sunday with Laura Kuenssberg show.
"We will set out those plans for our manifesto in detail," she said.