State pension triple lock ‘ripe for chopping block’ as Liz Truss resigns as Prime Minister | Personal Finance | Finance

He explained: “Given the sums involved it is ripe for the chopping block for a Chancellor who has made it clear that spending cuts are going to be required if we are to balance the books.

“There are fears though that by sticking with the triple lock and raising the state pension in line with inflation, further intergenerational inequality will be created. 

“Inflation is now running at almost double the earnings growth of working people, and during a cost of living crisis this will have a considerable impact on the finances of those people who are already struggling. 

“That said, there are also a vast number of pensioners facing some difficult decisions this winter and have no choice but to be beholden to decisions made by the state, whereas working people can more easily influence their own earnings.