The fundamental problem the country has is the lack of economic growth. It's fairly basic economics that a historically high tax burden is not conducive for growth. Previous governments have actually raised more revenue when cutting some taxes (notably, Osborne cutting corporation tax increased revenues). The goal of a tax system is to maximise revenue hence Italy is attracting a lot of wealthy Europeans (particularly from the UK) with attractive tax schemes.
Labour should just scrap it the triple lock, electorally they're in the toilet anyway and particularly with the 'grey vote'. Politically, Keir Starmer and his government are cowardly.
Frankly, the government needs to admit the truth that the pension wasn't built in the context of people living into their 80s. Rather than looking at pension pots as something to tax, government needs to do everything to push people to take ownership of their retirement and invest in their own pension pots.