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Income Tax Freeze to Burden One Million More Pensioners

3/3/2026

Summary

Story summary

The Office for Budget Responsibility says the freeze in income tax thresholds will push one million more pensioners into paying income tax by 2030-31.
The Office for Budget Responsibility estimates 600,000 additional pensioners will begin paying tax in 2026/27 because the state pension rises under the triple lock.
The government says those relying solely on the state pension will not face income tax before 2029.
8.7 million pensioners pay income tax.

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Story summary

The Office for Budget Responsibility says the freeze in income tax thresholds will push one million more pensioners into paying income tax by 2030-31.
The Office for Budget Responsibility estimates 600,000 additional pensioners will begin paying tax in 2026/27 because the state pension rises under the triple lock.
The government says those relying solely on the state pension will not face income tax before 2029.
8.7 million pensioners pay income tax.