A quiet storm could be brewing for some of the UK’s oldest pensioners, as experts raise alarms over what’s being dubbed a “retirement tax” and it’s not just affecting a handful of people. According to the analysis of government data, nearly half of retirees aged 85 to 89 are now being dragged over the income tax threshold, thanks largely to the triple lock on state pensions.
In contrast, only 22% of pensioners under 85 are in the same boat, meaning those born between 1935 and 1940 are most at risk. And with many in this age group living with long-term health issues and watching their savings shrink, it’s hardly a small concern, reported the Express.
