MONEY POLL: Are you worried about pension savings being taxed? Vote now

Finance expert discusses the controversy of the pension triple lock.mp4 |

GB NEWS

Patrick O'Donnell

By Patrick O'Donnell


Published: 12/10/2025

- 11:01

There is growing speculation over which taxes will be hiked by the Chancellor in her upcoming Budget

Britons are becoming increasingly concerned over the prospect of a pension tax raid being included in Chancellor Rachel Reeves's Autumn Budget on November 26.

Economists have warned the Chancellor could rake in £7billion for the Treasury if she targets retirement savings during her fiscal statement.


Anti-poverty charities and pensioner advocacy groups have called on the Labour Government to avoid a tax raid on retirees as Ms Reeves looks for ways to balance the books.

Older man and HMRC letter

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