This means, for the first time, anyone relying just on the state pension in retirement will have to pay income tax. Steve Webb, partner at pension consultants LCP, said: “The standard rate of the new state pension is creeping ever closer to the frozen personal tax allowance. While their pension also rises under the triple lock, because the old state pension is lower, it typically increases by less. If the state pension does end up rising by 4.7%, the new rates of the (old) basic state pension and the new state pension are shown in the table, in pounds per week and pounds per year. Rachel Vahey, head of public policy at AJ Bell, said: “That could mean a review of the state pension as well, at the same time as the government launches its formal review of the state pension age.”The state pension age will gradually increase to age 67 between 2026 and 2028.