Overview

• The 'triple lock plus' policy aims to raise the tax-free threshold in line with state pension increases.
• Around one in five pensioners currently receive state pensions above the tax-free allowance.
• Older pensioners and men are more likely to be affected by the tax.
• The new state pension system includes transitional measures that result in some receiving more than the standard rate.
• Both major parties plan to freeze income tax thresholds for the next three years.