The Conservatives previously pledged to keep the triple lock on state pension payment increases until the end of the next parliament.
The triple lock increases state pension payments annually by either inflation, average earnings growth or 2.5 per cent, whichever is highest. Many assumed the Tory promise would therefore run until 2020 at least, with no further guidance on whether this would be extended beyond such a date.
But former pensions minister Steve Webb said a by-product of today's announcement is to release the government of its promise. "The triple lock on the state pension must now be up for grabs," he said.
Last week, the Labour Party promised to keep the triple lock in place until 2025.
Webb added: "The Conservatives face a tricky choice, now that Labour has pledged to retain the triple lock.
If the Conservatives were to decide to scrap the triple lock in the weeks before a General Election it would be a sign of supreme confidence about the likely outcome.
Under the Pensions Act 2014, the government is legally bound to deliver a review of the state pension every parliament. The Cridland report, which forms part of the final review has concluded the triple lock should be "withdrawn in the next parliament".
Experts reacted to the delivery of report in March by calling it the "death-knell" of the triple lock. At the time, Webb said it was best to review the policy at the start of each parliament.
However today he added: "With inflation approaching 2.5 per cent, the cost to the Treasury of the triple lock becomes relatively small."