2025-08-07 08:29:02 +0100
To: Chancellor Rachel Reeves
Stop taxing low occupational pensions
We are calling on the Chancellor to increase the personal tax allowance, currently £12,570. For many low-income pensioners, this allowance means that a significant portion of their occupational pension is taxed, destroying the value of a lifetime of savings and hard work. This is a burden on those who have worked hard all their lives and paid into compulsory pension schemes.
Why is this important?
Because no matter your age, you will eventually reach retirement. Your pension is a very important part of your retirement plan, and it affects your lifestyle in later years. Not every worker earns a huge salary, but every worker pays into occupational pensions, and it is our future.
