Business

Over one million retirees now in higher tax brackets as frozen thresholds hit pension income

GB News 8 h

United Kingdom

Over one million retirees now in higher tax brackets as frozen thresholds hit pension income — Sources: GB News

A record number of retired people in Britain are now handing over a significant share of their pension income to the taxman. The scale of the shift has been dramatic, with new official figures revealing that more than a million pensioners are paying top rates of income tax. HMRC figures obtained through a Freedom of Information request by former Pensions Minister Steve Webb show that 977,000 pensi

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