Over 8 million state pensioners to be hit with new ‘retirement tax’ over next three years – and how to avoid

MILLIONS of retirees are set to pay income tax on their pensions for the first time over the next three years, fresh figures show.

In total, 8.2million people over the age of 60 will be dragged into paying income tax by 2027/28, according to analysis by HM Revenue & Customs (HMRC).

Millions will be dragged into paying income tax for the first timePA:Press Association

And those are only some of the millions of households expected to have to start paying income tax as a result of the ongoing freeze to tax thresholds.