ALMOST a million Scottish pensioners will lose out financially by the Tories’ decision to scrap the triple lock, the SNP warned today.

House of Commons Library research concluded 985,065 pensioners in Scotland have been directly affected by the cut, which will see them lose £520 in 2022, and a cumulative £2,600 over the next five years.

The Westminster government’s Households Below Average Income statistics show that British pension poverty had risen to a 15-year high under Tory rule, with 2.1 million UK pensioners — almost one in five — now living in poverty after housing costs.

Separate analysis from the House of Commons Library, conducted in June, revealed that British pensions were the least generous in north-west Europe by comparison to the average wage.

SNP MP David Linden said: “For as long as Scotland gets Tory governments we don’t vote for, Scotland’s pensioners will continue to see their incomes slashed. 

“Under Westminster control, UK pensioners already have the least generous pensions in north-west Europe — and things are only getting worse.

“In addition, the current UK government is consulting on bringing forward its planned increase to state pension age to 68 — by seven years — impacting on anyone born before 1976.

“After a decade of Tory austerity, millions of pensioners across Scotland currently find themselves living in poverty, but we don’t need to settle for this.”

A Tory government spokesman said it had not scrapped the triple lock and the one-year suspension ensures fairness for pensioners and taxpayers. 

He added: “Combined with last year’s 2.5 per cent increase to pensions — a step we took when earnings fell and inflation barely rose — we have ensured pensioners’ incomes have been protected amid significant economic upheaval.”