State Pension Warning 2026 | £10,420 Tax Allowance Review Could Cut Your Income

Описание: As we move closer to 2026, major discussions are taking place at the Department for Work and Pensions (DWP) and HM Revenue & Customs (HMRC) that could affect millions of people across the UK.

In this update, we look at the State Pension, the personal tax allowance currently discussed at £10,420, and how these reviews could quietly reduce how much pension income you actually keep. While nothing has been finalised yet, even small changes — or frozen thresholds — could mean more pensioners paying tax for the first time due to fiscal drag.

Many people don’t realise that the State Pension is taxable income, and if tax allowances do not rise in line with pension increases or inflation, take-home income can fall without warning. This is particularly important for pensioners on fixed incomes and those approaching retirement who are planning ahead.

In this video, I explain:

What the DWP and HMRC are reviewing for 2026
Why the £10,420 personal allowance is attracting attention
How fiscal drag can reduce pension income over time
Who is most likely to be affected
What pensioners and future retirees should watch for

This is not about panic — it’s about awareness and preparation. Staying informed now puts you in a stronger position when official announcements are made through future Budgets or legislation.

👉 If you receive the State Pension or are planning to retire soon, this update is especially important.

👍 Please like the video if you find it helpful
🔔 Subscribe and turn on notifications for future pension and benefits updates
📤 Share this with someone who relies on their pension income

#StatePension
#PensionUpdate
#UKPensions
#HMRC
#DWP
#RetirementPlanning
#PensionTax
#FiscalDrag

Disclaimer:
UK Pension Guide is an independent news and information channel. We are not affiliated with any government agency. Always confirm details with official government sources before making financial decisions.