𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Political parties have been warned they face being “annihilated” at the ballot box if they do not commit to the “triple lock” on pensions. Campaigners have welcomed new polling showing that only about one in 20 people want it scrapped and have warned party leaders of the challenges pensioners face from rising prices.

The measure – which ensures the state pension keeps pace with inflation and wage increases and rises by at least 2.5% a year – has come under sustained attack, but only 6% of the public favour axing it. Four in 10 Britons (38%) want it made permanent, according to polling by Opinium. There is a clear generational divide, with more than two-thirds (68%) of “baby boomers” aged 62-80 supporting a permanent triple lock compared with just 14% of those aged 18-29.

Tom Selby, of investment platform AJ Bell, which commissioned the research, said: “A significant section of the public support the triple lock, particularly older voters, and any party indicating it will not pledge allegiance to the policy risks being annihilated at the general election.”

Reform UK has committed to keeping the triple lock and making savings by cutting the benefits bill. But the policy is under attack, with former chancellor Sir Jeremy Hunt saying the prime minister should “absolutely” reconsider the policy and former Bank of England chief economist Andy Haldane suggesting it could be scrapped to fund increases in defence spending.

Mr Selby suspects the reason “politicians of all stripes remain steadfastly wedded” to the policy comes down to “cold political calculus”. But he argues it is unlikely the triple lock will be made permanent because the state pension would eventually “reach and then exceed average earnings in the UK”.

He said: “The fact young people are much less in favour of the triple lock than their older counterparts may reflect the reality that the longer it is in place, the more likely the state pension age will need to rise further and faster than under current plans.”

However, Dennis Reed, of campaign group Silver Voices said: “This survey nails the lie that there is any public demand to scrap the triple lock.

“The incessant attacks on the triple lock are generated by a small cabal of well-heeled Whitehall policy wonks who have no need themselves for a state pension safety net. These provocateurs now need to recognise that public opinion is not with them and shut their traps.”

Mr Reed said it was the “worst possible time” for a new debate on the triple with “another energy and food price crisis developing fast”.

He said: “Older people are already worried sick about whether they will be able to afford to heat their homes this winter, and many already scrimp on food and social activities.

“It is also important for younger people to recognise that, whether they like it or not, they will get old one day, and they may not have been able to afford gold-plated private pensions. The case for a good state pension safety net will be just as valid in 10 years and forty years as it is today.”

Reform UK’s Robert Jenrick – who would be chancellor if Nigel Farage becomes prime minister – said: “[We are] the party of alarm clock Britain, and today’s pensioners paid in for decades and deserve their reward. We’ll balance the books without making ordinary people pay the price.

“A Reform government will protect pensioners and make sure your pension rises every year.”

A spokesperson for the Department for Work and Pensions said: “Supporting pensioners is a priority, and our commitment to the triple lock for the rest of this Parliament means millions of pensioners will see their yearly state pension rise by up to £2,100.”