The COVID-19 pandemic prompted concern about the wellbeing of older people, however, there have also been accounts of increased sense of community in response to the disruption of established routines. To explore how older people experienced lockdown in Aotearoa/New Zealand, we analysed 635 written comments on the 2020 wave of the Health, Work and Retirement longitudinal survey of people aged 55–85 years. Using narrative genre analysis, we discuss two narratives of lockdown: a narrative of lockdown as ‘idyllic’ and a ‘dystopian’ narrative of distrust. Using the idyllic narrative, people described pleasant activities and linked these stories to earlier times when community life was less time-pressured and people were more connected to one another. The dystopian narrative was used to describe politicians and the media as untrustworthy and to depict new vulnerabilities created by the rules of lockdown. These narrative genres provide different positions for older people. In the idyllic narrative, older people are treasured and supported by younger community members, whereas in the dystopian narrative older people feel abandoned and manipulated. These genres draw on possible late-life futures that are familiar to older people: either treasured or discarded. Identifying these narrative genres reveals the different vulnerabilities older people experience. This information can be used to support older people to experience security and to flourish in uncertain times.