There is a stark generational divide over the future of the State Pension triple lock, according to research from PensionBee.
Just over a fifth (21%) of young adults aged 18-24 are in support of maintaining the triple lock, compared with 82% of over-65s.
PensionBee said that the four-fold difference reflects both differing priorities and lived experiences of economic security.
Despite 48% of respondents overall citing the continuation of the triple lock as a priority in pensions, there is growing public support for reform.
More than one in four (27%) respondents wanted the triple lock to be restricted to lower-income pensioners while scaling it back for wealthier retirees.
Younger age groups are especially likely to support conditional models. Over a third (34%) of 25-34 year-olds back 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, compared with just 2% of over-65s.
Meanwhile, across all ages, a third (33%) of respondents support scrapping the triple lock entirely in favour of inflation-only uprating.
With the Autumn Budget looming, the Government faces mounting pressure to reassure retirees while addressing growing unease among young taxpayers.
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.
“What is clear is that the debate has moved beyond whether the triple lock should exist. The real question now is how it can be made sustainable, fair, and fit for the future. Policymakers must strike a careful balance: protecting the dignity of today’s and tomorrow’s retirees on one hand; and on the other, solving for sustainability and the weight of the tax burden borne by those contributing into the system now and in the future.”
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