More than ten million pensioners are now paying income tax, setting a new record since thresholds were frozen five years ago.
The personal allowance has remained £12,570 since 2021/22, and is catching ever more people in the tax net.
More than seven in 10 pensioners are now taxpayers, according to Steve Webb, a former Pensions Minister and now a partner at consultant LCP.
New official figures published by HMRC show the number of over-65s paying tax has risen by more than three million since the threshold freeze began, while other government figures suggest that around 12.2million are receiving a state pension, he says.
Pensioners make up around one in four taxpayers as the freeze - which is due to last until 2031 - takes a toll across the board.
