Liz Truss-backed state pension triple lock supported by 55% but 'generational divide' opens

New PM could restore triple lock increases

Ayesha Venkataraman
clock • 3 min read

More than half of adults (55%) believe the state pension triple lock should stay, however, support for the measure drops significantly among the younger generation, according to a survey from Canada Life.

In September 2021, the triple lock - the mechanism which commits to increasing the state pension by the highest of inflation, earnings or 2.5% - was downgraded to the double lock. However, Liz Truss's recent appointment as prime minister could mean that triple lock will be reintroduced as she had pledged to retain the state pension triple lock until the next general election. A recent survey by Canada Life points to a large generational divide when it comes to this measure, with 78% of over 55-year-olds agreeing it should be maintained, while just a third (33%) of 18 to 34-year-olds s...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Do clients already own the best retirement portfolio?

Do clients already own the best retirement portfolio?

'Feeling safer and being safer aren't the same thing'

Alex Funk
clock 29 October 2026 • 4 min read
Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Changes will also be made to how tax due on excess lump sum death benefits is collected

Jonathan Stapleton
clock 28 October 2026 • 1 min read
Budget 26: State pensioners to be shielded from income tax

Budget 26: State pensioners to be shielded from income tax

State pension expected to rise to £13,036

Sophia Panayi
clock 28 October 2026 • 2 min read