State pension warning as millions could be slapped with ‘retirement tax’ within two years | Personal Finance | Finance
State pensioners in the UK are being warned that they could soon be hit with a “retirement tax”.
Experts are warning that fiscal drag could see Britons dragged into higher tax brackets as Prime Minister Keir Starmer vows to keep tax thresholds frozen until 2027-28. The freeze was brought in by the previous Conservative government.
With the personal savings allowance to remain at £12,570, fiscal drag could bring more people into higher tax brackets.
Researchers warn that wage growth will raise…
