State pensioners are being warned about the possibility of being caught in a 20% tax trap following the implementation of the next increase in payments. Around two-thirds of pensioners already have to pay tax, and the new state pension amounts are close to the HMRC personal allowance, which is the starting point for income tax liabilities. Upcoming State Pension IncreasesGovernment documents on the Chancellor’s Budget say: “To help make sure pensioners are protected in their retirement, we have also confirmed a 4.1% increase to the Basic and New State Pension, as well as the standard minimum g…