Pensioners Express Financial Concerns over Income Tax Drag

Pensioners across the UK are voicing their concerns over being pushed into paying income tax due to the failure to raise tax thresholds in line with income increases, including pensions. This phenomenon, known as fiscal drag, is resulting in more pensioners paying tax for the first time, while others are facing higher tax rates. Leading charities such as Age Concern and Independent Age report an increase in calls from pensioners seeking clarification and expressing anxiety about the issue.

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