Tax Rates

Over One Million Pensioners Now Paying Higher Tax Rates Amid Frozen Thresholds

Over one million UK pensioners have been pushed into higher tax rates due to a government policy of freezing tax thresholds while pensions rise. This "fiscal drag" acts as a stealth tax, significantly reducing the retirement income of many. This article breaks down the complex issue using simple analogies, explains the core numbers and policies like the "Triple Lock," and provides a practical, step-by-step guide for pensioners to check their tax status and protect their savings.