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Pensioners Could Skip Tax Under New Plan
Description
If Andy Burnham becomes PM, state pensioners could gain up to £537 a year — thanks to Chancellor Rachel Reeves’ plan to tax state pension payments at zero for those relying solely on them. This follows the Triple Lock Plus, which already shields pensions from inflation and earnings drops. Reeves confirmed before Christmas that these pensioners won’t need to file tax returns on their DWP payments. But experts warn it could create unfairness: those just over the tax threshold might dodge tax entirely, while workers earning the same pay both income tax and National Insurance. Could this unintentionally create a two-tier system? The details are still being ironed out.
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