Under the plans, the earnings element of the triple lock will be removed from April 2030, meaning the State Pension will instead increase in line with inflation or by 2.5%.
Older people working past the state pension age contributed over £60bn to the UK economy each year, research from the Centre for Ageing Better found.
This comes after the ONS confirmed the Consumer Price Index (CPI) held steady at 3.8% in September, finalising the triple lock calculation.
If this rate was maintained in September, Broadstone found the new state pension would go up by £551 to around £12,524 a year from £11,973.
The Triple Lock now means the basic and new State Pensions are increasing by 4.1%.