UK pensioners pay £34 billion of tax

The provider's analysis shows the average pensioner pays 27% if their gross household income in a combination of indirect and direct taxes. This rises to 33% for the poorest pensioners. Dominic Grinstead, managing director of MetLife Europe Limited UK said: "Tax does not end when you stop working and 27% of gross retirement income being swallowed up by tax is a major factor to consider when planning for retirement." The average gross pensioner household income is £18,834 with an annual tax liability of £5,124. Income tax accounts for nearly £1,300 of the bill. Indirect taxes includ...