Pensioners: Income
The question
To ask the Chancellor of the Exchequer, what estimate she has made of the difference in annual net income during 2027 for people whose total gross income is £13,000 composed of (a) only the new State Pension, and (b) a basic State Pension plus a personal pension.
Answered by Torsten Bell
As the Chancellor has said, over this Parliament those whose only income is the basic or new State Pension without any increments will not have to pay income tax.
As announced at the Budget, the government will ease the administrative burden for pensioners whose sole income is the basic or new State Pension without any increments so that they do not have to pay small amounts of tax via Simple Assessment from 2027-28.
The government will set out more detail next year.
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