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The crisis facing Britain's hard-up pensioners is laid bare in new figures that show older people taking out large loans. Britons aged 75-plus on average ask for a loan of £648, according to an analysis of more than 358,000 applications by Fast Loan UK. This compares with the national average for a loan request of £513. For people aged 70-74, the average loan requested was £623.

The research comes as concerns mount for the future of triple lock, which ensures the state pension keeps pace with inflation and wage increases and goes up by at least 2.5%.

Joe Brunt, managing director at Fast Loan UK, said: "Our data paints a troubling picture of older Britons already struggling to make ends meet. The people asking us to borrow the most aren't young people taking on debt, they're men and women in their 70s and beyond, the very generation that should be enjoying a settled retirement. Instead, they're turning to loan providers to cover home repairs, unexpected bills and everyday costs."

The Conservatives and Reform UK have pledged to keep the triple lock, but the policy has been attacked by a host of senior politicians and think tanks.

Mr Brunt said: "If the triple lock is axed, removing that guaranteed minimum 2.5% annual rise in the state pension, the situation will get significantly worse. For many over-70s, the state pension isn't a top-up, it's their lifeline.

"Stripping away that protection doesn't just affect future retirees; it hits people who are already borrowing just to get by, right now."

Morgan Vine, of Independent Age, said the charity had spoken to older people who were "only washing a couple of times a week" and "having just one small meal a day", and unable to afford a coffee with a loved one.

He said: "The new numbers on older people turning to fast loans are extremely concerning, but sadly not surprising. Our own research found that more than one in five (21%) older people on a low income would find it difficult or impossible to pay an unexpected but necessary cost of just £50 without borrowing money."

Caroline Abrahams, of Age UK, urged the Government to take action to ensure pensioners do not miss out on support to which they are entitled, saying: "Having money troubles is hard at any stage in life, but when you're living on a fixed low income it can be soul-destroying to stay afloat... It's frightening that so many older people said they were struggling financially even before the consequent price rises for energy and other essentials kick in and we worry this winter will be very challenging for millions of pensioners."

Shadow Work and Pensions Secretary Helen Whately said: "Labour want to squeeze pensioners for every penny possible. That much has been clear ever since they got into power, when they went after the winter fuel allowance, only to U-turn after sustained Conservative pressure. Labour have nothing to offer for pensioners who have worked hard all their lives and are now struggling with the cost of living and having to take loans to make ends meet."