the End Frozen Pensions
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DWP Minister shares update on nearly half a million Brits facing ‘frozen pensions’
DWP Minister shares update on nearly half a million Brits facing ‘frozen pensions’ Hundreds of thousands of people are affected by the policy State pension is increased each year thanks to the triple lock guarantee, adding extra cash into each payment to ensure it keeps up with inflation. However, nearly half a million British retirees are not eligible for this annual increase and some have been receiving the same rate for decades. This is known as ‘frozen pensions’, affecting people who...
State pension HMRC alert as millions could end up paying more
State pension HMRC alert as millions could end up paying more Growing numbers of state pensioners may face HMRC tax bills A HMRC levy affecting millions of state pensioners has been condemned by a prominent union. Growing numbers of state pensioners may face HMRC tax bills due to fiscal drag, with the triple lock - which guarantees an annual state pension rise - pushing them closer to the tax-free allowance threshold. The personal tax allowance has remained frozen at £12,570 since 2021 -...