The triple lock has become a flashpoint for a deepening generational divide, with new research revealing a stark contrast in attitudes towards the policy’s future.
The findings from PensionBee highlight a growing challenge for the government as it grapples with strained public finances ahead of its Autumn Budget.
Despite repeated assurances that the triple lock will be maintained, the survey exposes a significant age-related chasm in support.
While a substantial 82% of those over 65 back the continuation of the policy, only 21% of 18-24 year olds share this view.
This near fourfold difference reflects differing economic priorities and concerns about future security.
While the triple lock remains popular overall, with nearly half of respondents (48%) citing its continuation as a priority for pensions, there is an increasing public appetite for reform.
Over a quarter (27%) of those surveyed would support restricting the triple lock to lower-income pensioners and scaling it back for wealthier retirees.
This signals a willingness to explore means-tested or targeted approaches to protect the most vulnerable.
Younger generations are particularly open to conditional models.
More than a third (34%) of 25-34 year olds support capping the triple lock during periods of high inflation, while a quarter (26%) of 18-24 year olds believe it should only apply when the economy is growing strongly. This contrasts sharply with the views of those over 65, with only 2% supporting the latter.
Leader: Means testing the triple lock would never work
Furthermore, a third (33%) of all respondents would support scrapping the triple lock entirely in favour of an inflation-only uprating.
This indicates a significant proportion of the public is ready to move on from the current model if it is not deemed sustainable.
Lisa Picardo, chief business officer UK at PensionBee, said: “These figures expose a growing generational fault line around the triple lock.
“For many older savers, it is a lifeline that must be protected at all costs, while younger people may favour adjustments to how it is delivered. The reality is that in the short term, the triple lock is here to stay.”
She added that the debate has moved beyond the policy’s existence, focusing instead on how it can be made “sustainable, fair, and fit for the future.”
Picardo said that policymakers must strike a careful balance; “protecting the dignity of today’s and tomorrow’s retirees” while also addressing the “weight of the tax burden borne by those contributing into the system now and in the future.”
