Pensioners in India can now easily submit their Jeevan Pramaan (digital life certificate) online or via mobile app before the November 30th deadline. This article provides a step-by-step guide to ensure uninterrupted pension payments.
Results for: Pensioners
Labour’s decision to scrap the winter fuel payment for most pensioners has drawn criticism and sparked debate at the party’s annual conference. While the government claims pensioners will be better off overall, unions argue the move will disproportionately impact the poorest. Meanwhile, a recent report highlights the closure of bank branches across the UK, raising concerns about access to financial services, particularly in rural areas.
Over two million married couples and civil partners may face scrutiny from HMRC after claiming the marriage tax allowance. This allowance allows one partner to transfer £1,260 of their personal allowance to their spouse, saving up to £252 per tax year. However, pensions campaigner Ros Altmann cautions that many pensioners who have taken advantage of this could now face unexpected income tax bills. This is due to the combination of frozen tax thresholds and the increase in state pension value, resulting in a lower personal allowance for these individuals. Altmann highlights the risk of fines and penalties for those unaware of their tax liability, particularly among poorer pensioners who rely solely on their state pension.
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.