A post on TikTok claimed that HMRC is warning pensioners of a £130 deduction to the monthly state pension. It also suggests that the Government is “trying to lessen pension amount also”.

Original publisher’s rating

There were no plans to reduce either the basic or full state pension in the most recent Budget and there has been no suggestion from the Government that there will be in future. The Government has said that it is committed to the so-called triple lock, which commits it to increasing the state pension every year. Some experts have raised concerns that frozen tax thresholds may increase the number of pensioners paying income tax, but these figures are speculative and have not been issued as guidance by HMRC. The figure of £130 in these projections is also an annual figure of income tax, rather than a deduction per month. Additionally, tax thresholds are set to be unfrozen from the 2028/29 financial year.

Reviewed by PA Media ↗ · November 14, 2024