The triple lock ensures state pension payments go up each April (Image: Getty)

MPs have looked at concerns about the sustainability of the triple lock guarantee for the state pension. Experts in the pensions field appearing before the Work and Pensions Committee suggested the scheme may soon become financially unsustainable. One of the experts said savings from scrapping the triple lock could allow for extra support for some claimants.

However, they also said it's hard to know what alternative to the triple lock would be best, given the purpose of the state pension is not clear. They committee met to look at the question of increasing the state pension age.

Currently set at 66 for both men and women, the access age is set to climb progressively to 67 during the period from April 2026

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