Retirees who have been caught in the crossfire of frozen tax thresholds and rising state pensions could see their liabilities erased.

Those receiving state pension find themselves in a tricky situation as the triple lock guarantees annual increases in their pension income, which is inching ever closer to the frozen personal tax allowance of £12,570.

This could result in many people paying income tax on a benefit alone in their retirement, irrespective of any other pension income they may or…