8.5% rise for the middle aged today.

[Returnofrros]

And that's why it's better to go the ISA route.

[islaydarkblue]

I've got a small pension with NHS, they sent me a letter saying increase of 6.7% on April 8, I'm now actually worse off by £28 per month due to the tax on this pension alone.

You are not alone.
Every pensioner with a pension in addition to their state pension is worse off because the personal allowance has remained frozen.
People receiving the minimum wage working a 35 hour week will also be paying income tax.

[Returnofrros]

You are not alone.
Every pensioner with a pension in addition to their state pension is worse off because the personal allowance has remained frozen.
People receiving the minimum wage working a 35 hour week will also be paying income tax.

You can't be worse off, your just not quite as well off as you should be if allowances have went up.

[davydook]

You can't be worse off, your just not quite as well off as you should be if allowances have went up.

Believe me , I am £28 down a month

[BCram]

Believe me , I am £28 down a month

Don't see how your total pension can go down below what you were getting. Can believe you are down by £28 in one section of your pension arrangements but I would hope that the in reasonable in State pension was such that you have more money at the end of the day.

No expert but it sounds so unfair that there might have been a mistake by HMRC?

[Deeranged]

Yeah definitely can't be worse off because worst case is you lose 48% of the increase - that still leaves you 52% of the increase. Even if the increase takes you over a tax band you only pay that higher percentage on the amount over the band.

[Returnofrros]

As Deeranged says

[davydook]

Don't see how your total pension can go down below what you were getting. Can believe you are down by £28 in one section of your pension arrangements but I would hope that the in reasonable in State pension was such that you have more money at the end of the day.

No expert but it sounds so unfair that there might have been a mistake by HMRC?

That's what I'm hoping.

[BCram]

That's what I'm hoping.

Good Luck!

[BCram]

Makes a difference when ideas are shared, rather than trying to score points. This is the way this forum used to work, not all the time, I agree, but basically it was a great place to chat.