The powerful brains of our government are discussing it now apparently!

If they want to do the right thing they should at least put the household income up to a reasonably figure. Perhaps two tax codes worth, about £25,000.

Yes something like that. I hope behind the scenes discussions are taking place so people who need it get it i.e. not people like me who boast two (yes 2) electric bikes. Flash or what eh!!

I suspect they may just raise it by a couple of thousand and shout it from the rooftops….
My state pension went up by £25 a month….the water rate increase took that.
My French pension was much more agreeable.
I pity anyone having to survive on a basic state pension.
Funny that we have a ‘living’ wage, but it’s a lot higher than the pension.

The problem with setting an income limit & means testing the WFA for those below a certain limit is that it will cost a fortune to check everyone, it would probably be cheaper to give it to everyone, like it was initially. That's why child benefit was originally given to all parents as the cost of admin to means test it was more than it cost to give it to everyone.

Just increase the threshold to £25,000 or £30,000...job done and hopefully job will be done.

Yes, means testing is expensive. Martin Lewis had an idea of giving to certain poll tax bands, not waterproof but better than now.

If the government are happy to squander tax payer's cash on hotels for illegal migrants they might as well pay me for a flashy new pair of trainers and a new top of the range pickleball paddle!

or just say any money received from the government as a pension is untaxable no matter if the threshold is increased or not which it should be anyway for lower wage earners.

French pension we need to know more Snowy or is it Rene?

State Pensions should be tax free, you contributed N.I. at the same time paying tax on your salary, a bit like double taxation.

That would be the answer. If it pains them too much they could then give state pension recipients a different tax code, 5K maybe?

they call it a benefit. so are other benefits taxable like family allowance and unemployment or incapacity benefits people receive that many are inclusive of the rents they pay.

I knew this would happen. There's been a change of heart, a semi U turn, however no detail.

Something like "we can now look at this again and change it because the economy is in a better shape, thanks to us - blah blah fart cough"

Basically Starmer announced they are changing the policy but couldn't announce what the change in policy was. It seems that Rachel from Accounts hasn't crunched the numbers yet. She'll probably announce the change when she announced the end of the triple lock.

List of taxable and non taxable benefits,
https://www.gov.uk/income-tax/taxfree-a ... e-benefits

I'm sure I'm not the only one on here who pays full tax on their state pension.Some on here say it shouldn't be taxed at all which would be great for me but is that fair to the taxpayer overall.

£15,550.

That's what the tax code would be now if it hadn't have been frozen. It's the biggest con of them all.

And as for the government bigging up that they've raised the minimum wage, firstly they don't pay it, secondly they cream in more tax.

They’ll go up to the tax threshold, anyone paying any tax will not get it.
Bag o shite.

How do you charge the batteries.

Electricity

Anybody on the new State Pension from 2016 will be paying tax on it, how much are the government raking in from that ?
In this day and age with technology means testing can’t be that expensive to set up ?

Imagine if they started paying tax on welfare benefits..
Sorry, but politicians seem to think ALL pensioners are loaded.

That's incorrect, the current pension is £230.25 a week, which is £11,973 a year, tax doesn't start until you earn over £12500. So if you only receive the state pension you won't pay tax, but even with a very small PP, you will likely be dragged into the tax bracket & then you will pay tax on anything over £12500!!

Some welfare benefits are taxable income & you will pay tax if your total income including these benefits take you over the tax threshold of £12500.

A small private pension can end up costing you money.

it certainly did for my parents who were coppers over the extra amounts they could have claimed for that was higher than the private pension they got. my old mans brother warned him but he would not listen and he gave me the best advice ever by saying you cannot beat the system but can use it.

would not mind if they used PAYE on it like in every job i did and not ask for a lump sum thats been spent.

I fall into the after 2016 bracket, I opted out of SERPS, I can’t remember how long for but my pension is still over the tax threshold some thing to with protected rights ?

Private pensions were sold on fear factor, what if this that and the other but people who worked and contributed to a PP are now being penalised to subsidise others who never worked have no money but can top up their old age with various tax free benefits.

My small private pension started with SERPS and topped up by voluntary contributions is ‘costing’ me nearly £70 a month in income tax.

Where the government is going to pitch the new limit to get the WFA is going to be a difficult one.
Firstly the government needs to assess what it can afford and then try to match it to what the electorate would see as being fair.
However this could result in a situation where you are creating in peoples mind a new definition (in £) of what poor is. Is it £12500/15000/17500/20000?????
Over to you HM Government!

not really as its more of an individual thing. some pensioners even on the basic government pension are making ends meet whilst some who pay the higher rate of tax cry the poor tale and get themselves in a mess. only you yourself and how you run your finance can tell you if they are poor or not and do not want the government to tell you.

For the Reform voters in here did anyone see their supporter suggesting the triple lock will be changed.

No.

Can’t believe I saw the title of this thread and thought, at last, a bit of light relief.