Triple lock alert as this legal loophole means it can 'easily be abolished'

State pensioners received a 4.1% boost to their payments this month thanks to the triple lock policy, but such generous increases could soon be a thing of the past.

The triple lock pledge guarantees the state pension goes up each April in line with the highest of 2.5%, the rise in average earnings or the inflation rate.

The earnings figure was used to determine this month's rise in payments, with the full new state pension increasing from £221.20 a week to £230.25 a week, an increase of around £470 a year.

Labour has pledged to keep the policy in place for the duration of this Parliament, but pensioners have been warned that the metric can in fact by easily amended.

Claire Trott, divisional director for Retirement & Holistic Planning at , said: "We should remember that the triple lock is in fact a promise and not written into legislation, so changing or abolishing it could be easily done although the backlash of such a decision would be significant."

With the latest inflation statistics at 2.6% for the year to March, experts have been pondering whether this measure or earnings will decide next year's increase.

The tax implications of next year's increase are particularly pertinent, as an increase of 5% or more would mean the full new state pension would become subject to income tax, using up all of a receipent's £12,570 personal allowance.

Ms Trott said it's hard to tell which part of the triple lock will decide next year's increase. She explained: "Currently the annual rise in weekly earnings is 5.6% including bonuses, which is more than double the current CPI rate of the 2.6%.

"However, these are not the figures that would be used in October and could easily change significantly between now and then. There is of course an understanding that the increases of the cost of living haven't been factored into the CPI figures yet, as the April price hikes did not come into force until after the data was released, however, these will be factored in the October numbers."

However, she warned there is a "strong chance" payments could go up by 5%, dragging some state pensioners into paying tax for the first time.

This could mean some extra paperwork for pensioners to fill in. Ms Trott explained: "For those with other pension income the additional tax will be taken by way of PAYE, but if you have no other income or your other income isn't taxed PAYE then there is the challenge of making sure you are paying the correct amount of tax.

"This could mean that many more pensioners will need to do self-assessment returns, which are daunting for most, let alone those who have never had to do one before and are likely to be of an age where they might be less tech savvy and less trusting of online submissions.

"This could mean the cost of having someone do a return for you may be more than the benefit of the increase. Something needs to be done to make this simpler for everyone."

Others have warned that the rise in the state pension could mean low-income pensioners losing out on important DWP benefits.

Rebecca Lamb, external relations manager at debt advice group , said: "While the annual increase in the state pension under the triple lock is designed to help pensioners keep up with the cost of living, the continued freeze on the personal allowance means that more older people, including those on low incomes, could be pulled into paying tax for the first time.

"For those relying solely on the state pension, this shift is not just a matter of a few pounds. It's a real-terms cut in what they have available to meet everyday essentials - from heating their homes to doing the food shop.

"On top of that, crossing the tax threshold can tip people just over the line for benefits like pension credit or housing benefit, meaning they don't just pay tax; they could also lose other vital support too.

"For many older people, especially those who have never dealt with the tax system before, this adds unnecessary stress and confusion."

Nonetheless, Ms Trott pointed out there are lasting benefits with the increases to the state pension, beyond giving a pay rise to current claimants each April.

She explained: "For many people, the triple lock is seen as a benefit of those retired now, but because the state pension increases on a compound basis, then any increases now should benefit everyone entitled to the benefit now or in the future.

"An increase now isn't just applicable for one year but rather be retained for all future pensioners. This does of course have an impact on the cost of providing the state pension in the long run with the increase of the cost of providing the benefit will not be a one off, but rather an increase to the cost forever, with future increase being based on a higher amount."