@antonia_investing: Having a small pension could now cost you money, and the government just confirmed it. Andy Burnham and John Healey have committed to exempting state pensioners with no other income from tax once the state pension exceeds the frozen £12,570 personal allowance from April 2027. But the exemption is a cliff edge: just £1 of other income, including a small workplace pension, means paying tax on the full state pension too. There are options worth exploring, including how you sequence drawing private pensions and the state pension, but the right approach depends on individual circumstances. Speak to a financial adviser to find the most efficient path for you. Not personal advice, speak to a financial adviser about your own circumstances. Source: HM Treasury statement to The i Paper, LCP pension analysis, AJ Bell, Royal London adviser guidance #StatePension #PensionUK #TripleLock #UKTax #RetirementPlanning
Investing Insiders
Region: GB
Saturday 25 July 2026 15:04:38 GMT
Music
Download
Comments
Julie :
You only pay tax on anything over the threshold
2026-07-26 08:21:43
1
go..go..gone! :
where is our tax getting spent? oh yes, France, closed hotels, mp's, etc
2026-07-26 11:11:28
2
Jonathan :
Why should an 18 year old shop worker earning £14k pay 20% tax on the earnings over £12570. But a pensioner earning over £12570 be exempt? Either the tax free threshold gets raised for everyone or no one.
2026-07-25 19:03:07
17
user5207941549591 :
I believe governments are criminals. They don’t want the normal people to build wealth
2026-07-25 18:31:15
9
duckfriend123 :
I’m already in that trap. I don’t qualify for the full pension but I have a small private pension that takes my annual income to £14k. It’s all bloody ridiculous.
2026-07-25 15:17:04
8
Lloyd :
Cool so I’ll cash out my work pension now and stop paying into one 🤷🏼♂️
2026-07-25 23:57:26
2
bazzamanor :
your stare pension is already included in your tax bill
2026-07-25 15:11:26
4
Rob314151🏴 :
When the government taxes a state employed retiree funded pension, it doesn't generate "new" wealth or net new revenue for the public purse and instead it is simply shifting existing taxpayer money from one government ledger to another as a circular transfer payment. However, a private pension drawdown is a net addition to the Treasury's tax pool. It takes money that was generated in the private sector and moves it into the public sector for the first time, so frankly, it should be that private pension drawdowns should be exempt from the issue you've described since retired former state workers technically don't pay any tax on their drawdowns
2026-07-25 21:07:08
0
MDog100 :
So well explained, and so relevant (latest tax rules and impact), love your content, many thanks 🤩
2026-07-25 20:49:42
1
user9027410469342 :
why even have a works pension.
2026-07-25 16:09:30
2
Shattered Fragments :
Meanwhile, families with 5+ children (who they have, but can’t afford to feed) get £90,000 tax free every year. And Lord Sadiq will be getting his tax free £390 a day House Of Lords pocket money. So it’s not all bad news.
2026-07-25 20:38:38
0
tricky :
move to the Isle of man, 17k then you pay tax ,if you are single, and it's 21% no higher
2026-07-25 22:20:49
2
Martin Louis Gayson :
Out of interest what would you consider a small private pension in the UK..I’m 61 and I have and consider 200k a small pension 🥺I’m still working and atm in good health and still working
2026-07-25 17:31:56
1
Three fields🌾 :
That’s ridiculous!! Can’t even max out isa now either!!
2026-07-25 15:33:00
1
specimen carp :
You are great more please
2026-07-25 18:50:51
1
Tane Lockhart :
The best investment I made was starting dropshipping.
2026-07-26 00:17:45
1
carlsburgcarla :
what 😲
2026-07-25 15:43:59
1
ammarali04100 :
They just need to raise this £12'570 simple.
2026-07-25 20:38:14
0
Feroz Ladha :
Burnham is Starmer in disguise.
2026-07-25 15:37:06
5
Dad's crap dancin :
this Labour government is truly abhorrent
2026-07-25 15:56:00
1
English Panda :
I am an ex independent financial adviser, this doesn't effect me because I live in Cambodia. Ha ha ha. The Govt moved the goal posts and expect us to be quiet.
2026-07-26 00:13:10
1
Give me a break !! 🙄 :
SO. All the fkn spongers who haven’t paid fk all get ALL THE BENEFITS
2026-07-25 17:02:29
2
NightShiftPro :
boomer gravy train getting absurd
2026-07-27 22:19:21
0
To see more videos from user @antonia_investing, please go to the Tikwm
homepage.