Pension UP... Tax NEXT?
Автор: Heathcote Financial Planning
Загружено: 2025-12-15
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Pension Up… TAX Next? | What the Autumn Budget Means for Your UK Retirement (2026–2029)
The UK State Pension is set to rise from April 2026 — but could tax be the next big change?
In this video, Steve breaks down what the latest Autumn Budget signals for retirement planning in the UK. The full new State Pension is expected to increase by 4.8% to around £12,548 a year, landing just £22 below the Personal Allowance. The Government has also said pensioners whose only income is the new State Pension won’t pay income tax as it nudges over that threshold (at least until July 2029).
But here’s the reality: not everyone gets the headline figure. Millions are still on the old State Pension, which is often lower — and once you add any private pension income, the tax and admin picture can change quickly. From 2027, some people may also be brought into HMRC’s Simple Assessment system.
We also zoom out to the bigger question: is the triple lock sustainable long term? With rising costs, a growing bill to the Treasury, and the State Pension age moving to 67 by 2028 (and 68 planned for the 2040s), it’s worth stress-testing your retirement plan against future rule changes.
✅ If you want clarity on how your State Pension, workplace pension, personal pensions and ISAs work together — and what your after-tax retirement income could look like — we can help.
Book a conversation with Heathcote Financial Planning and we’ll build a plan that doesn’t rely on headlines.
www.heathcotefp.co.uk
or call us: 0333 335 6087
Source: Morningstar (UK)
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