The Army is to reduce the numbers of soldiers fully trained to parachute - meaning many will no longer qualify for the additional payment.
It could mean a pay cut of up to 10% for the lowest-paid private and officers told the Daily Telegraph it would seriously affect morale.
The newspaper said as many as 4,000 could be affected, including those returning from tours of Afghanistan.
But the Ministry of Defence said no decision had been taken on the extent of the change and that no one would see their pay drop for at least a year after any change.
A source said it was right at a time of public spending restrictions that "people who will never be asked to jump out of the back of a plane" may lose the payment.
Those affected would include quartermasters and cooks, who traditionally had been fully trained as part of 16 Air Assault Brigade.
"In light of the SDSR (strategic defence and security review) it is likely that the majority of Parachute Regiment soldiers will remain fully trained to parachute but the parachute requirement for 16 Air Assault Brigade as a whole will be reduced," the source said.
"Soldiers who remain fully trained to parachute will continue to receive specialist pay. Personnel will be informed as soon as these plans have been finalised."
It is understood final decisions will not be taken for a least several weeks and the payments would continue for at least 12 months.
"This is going to really strike at morale," the Telegraph quoted a senior officer as saying.
"These blokes have just got back from putting their lives on the line for their country and now their government is forcing a 10% pay cut on them.
"It's so outrageous that people just laugh."
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