State pension fury as young Brits demand 'triple lock should be scrapped!'

Young people in the UK want the state pension triple lock to be scrapped, a new poll shows, as welfare spending on elderly Brits comes under fire.

The survey found that just 21% of young adults support the triple lock, which ensures the state pension rises by the highest figure out of inflation, average earnings increases, or 2.5%.

The survey, from data provider PensionBee for This is Money, also found that 82% of those over 65 support the policy.

The Government has assured older voters that the triple lock is going nowhere, but debate around the sustainability of the policy is growing.

That is because the annual state pension climbed 4.1% to £11,973, and is set to rise again by 4.7% in 2026.

The cost of the triple lock is forecast to reach £15.5 billion a year by 2030, and with the UK's ageing population, this figure could climb further.

Lisa Picardo, of 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."

The state pension can currently be accessed at 66, but is already set to rise to 67 in 2028 and 68 by 2046.

However, Secretary of State for Work and Pensions Liz Kendall announced a review into the state pension age earlier this year.

She also warned Britain faces a "tsunami of pensioner poverty" without reforms to the system.