One in five pensioners – an estimated 2.5 million – pay income tax on their state pension and will continue to do so regardless of who wins the election.

The Conservative manifesto includes a ‘triple lock plus’ proposal which is supposed to protect people on the state pension from paying income tax.

The standard full new state pension is worth £11,541.90 a year, which is currently below the standard personal allowance of £12,570 the point for when most people would start to pay tax.

However,…