If you step back a bit, then the triple lock isn't as straightforward as it first appears. It was put in place when inflation and earnings growth were both low, and part of the reason for the 2.5% minimum was because pensioners had got left behind because earnings were increasing faster than prices. There's something to be said for reducing the 2.5% minimum and just letting pensions rise at CPI or earnings inflation. Now, obviously, that's unlikely to be the tories plan, but it would be a credible alternative for a party to put forward.
If we return to a low inflation environment where the 2.5% starts to kick in again, then, if you assume that you're not going to tax workers or companies to fund that, then the obvious effect of that is a need to balance the books, which would likely mean a further increase, over and above what would otherwise be happening, to the age at which the state pension is paid. So, old people would end up with more money, but those approaching retirement would have to wait a year or two longer before they could get their hands on it. There's always a trade off somewhere, and that's the most likely scenario.