People deriving income solely from state pension won’t be taxed, says chancellor
PositiveWorld Affairs

- Chancellor Rachel Reeves announced that individuals relying solely on the state pension will not be subject to income tax, a move that could create a two-tier system for retirees. The new state pension is set to increase to £241.30 per week in April, just below the personal tax allowance threshold.
- This decision is significant as it aims to alleviate the financial burden on pensioners who depend exclusively on the state pension, potentially providing them with greater financial security in retirement.
- The announcement comes amid a broader budget strategy that includes a £26 billion tax increase and increased welfare spending, reflecting ongoing efforts to address the UK's cost of living crisis while balancing the needs of various demographic groups.
— via World Pulse Now AI Editorial System







