Over 12million state pensioners facing ‘retirement tax’ as pay rise hits in days

OVER 12million state pensioners face paying a “retirement tax” as a pay rise hits in days.

Millions should brace for paying tax on their incomes due to a rising state pension and frozen income tax thresholds.

GettyMillions of pensioners are facing paying a higher tax bill[/caption]

The state pension rises every year based on the “triple lock” – whatever is highest out of inflation, 2.5% or wages.

From Sunday (April 6), it is rising by 4.1%, based on wages for the three-month period from May to July last year.