A twin vane-type phaser is described which is provided with a locking mechanism for locking the drive member to the driven members when the pressure in the working chambers is a below is predetermined value. The locking mechanism comprises two coaxial locking pins 114, 118 mounted in a common bore 110 in the centrally located member 32. The locking pins are resiliently urged apart by a spring 120 into bores in the two outer members 38, 40 and are retracted by pistons 112, 116 when the hydraulic pressure in the working chambers attains the predetermined value.