Millions of workers under 40 face having to work until age 70 before they can claim their state pension — even if the triple lock is abolished.
Experts believe the state pension age will increase to 70, even if the triple lock is scrapped following repeated warnings about the strain it places on the public finances.
The mechanism guarantees the state pension rises each year by the highest of inflation, wage growth or 2.5 per cent, but costs have ballooned in recent years following economic shocks.
Shorts
The state pension age, which is currently set at 66, is already set to increase, to help manage the costs of an ageing population, as rising life expectancies mean people can spend significantly longer in retirement.
