Mel Stride has hinted the Triple Lock is under review (Image: Getty)
The future of the triple lock is under threat if the Conservatives win the next election, Mel Stride has hinted.
The Shadow Chancellor confirmed the popular policy will be reviewed if the Tories return to power in 2029.
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Labour has seized on the comments, claiming the Conservatives are planning to ditch the Triple Lock.
Mr Stride told a lunch with journalists in Westminster: “We will be looking at every single aspect of policies around pensioners as we go forward.
Rachel Reeves has been criticised for cutting Winter Fuel payments (Image: Getty)
“But I think it is fair to say, that as a party, we have always stood up for, and worked hard to protect pensions.
“We have too readily forgotten when people criticise the triple lock the position pensioners were in under the last Government.
“We had the fourth highest level of pensioner poverty in Europe.
“What I can assure you on, is we will continue to stand up for our pensioners.”
A Labour spokesperson said: “Mel Stride has let slip that the Tories are planning to betray pensioners and ditch the triple lock.
“In government, the Tories broke the triple lock and left pensioners worse off. Now they’re planning to do it all over again. The Conservatives haven’t listened and they haven’t learned.
“This Labour government is committed to raising living standards and giving pensioners the dignity and security they deserve in retirement.
“Millions are set to see their state pension rise by up to ￡1,900 this parliament through our commitment to the triple lock, and our Plan for Change means investment and reform to grow the economy to put more money in people’s pockets.”
One of Chancellor Rachel Reeves’ first acts as Chancellor was to means-test the winter fuel allowance, stripping 10 million pensioners of their payments of up to ￡300.
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She confirmed the triple lock on state pensions will remain, which means pensions go up by at least 2.5%, inflation or average earnings.
It means from April, payments will go up by 4.1%, which amounts to ￡470 a year for those on the full new state pension.
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Mr Stride comments came after he said last year: "In the very, very, long-term, if you have an arrangement like the triple lock that keeps ratcheting up pensions by the highest of three different metrics - it seems to me that it does become unsustainable in the long-term.
"But we're not in the very long-term, we're in today. We have a commitment to it."
When asked if the government should keep the commitment going into the next general election, Mr Stride answered: "That's a very big fiscal decision and it's not one for me to opine on."