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State pensioners could face an HMRC tax bill if they have extra income of more than £22 a year. Older people are set for a 4.8 per cent increase in the State Pension from April 2026, which pushes the payment close to the income tax threshold.

The triple lock guarantee ensures that the State Pension rises every April, in line with the highest of total earnings growth from May to July of the previous year, Consumer Prices Index (CPI) inflation in September of the previous year, or 2.5 per cent.

Figures released on October 22 showed that September inflation remained steady at 3.8 per cent, the same level as July and August. Earlier figures showed total wage growth, including bonuses, for the quarter to July was 4.8 per cent, which is therefore the key figure to be used for next

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