State Pension

Given that there are non-UK readers here today, this is not a bad potted history of how it came about:

https://www.charles-stanley.co.uk/insights/commentary/history-of-the-state-pension

One particular section reads:

The income tax personal allowance is presently frozen at £12,570 and the full New State Pension for 2026/27 tax year is £12,548, a hair’s breadth away. Next tax year, it’s a mathematical certainty that a full New State Pension, according to the triple lock, will exceed the income tax personal allowance. The government will need to address this as it isn’t feasible to drag many millions of low-income pensioners into declaring and paying tax. So far Chancellor Rachel Reeves has said that people whose only income comes from the state pension will not have to pay tax, but how this will work in practice is uncertain. Plus, many existing state pensioners under the pre-2016 system do already pay tax on amounts exceeding the personal allowance, so devising a fair and workable framework may be a challenge.  One option would be to increase the income tax personal allowance each year in line with the level of the New State Pension, but this will cost the Treasury in terms of the income tax take. 

Maybe read that in conjunction with this on the "triple lock"

https://moneyweek.com/personal-finance/state-pensions/future-of-state-pension-triple-lock#:~:text=Broadly%2C%20yes.,those%20on%20the%20previous%20system).

There are other complications, in some individual cases, which would follow being taxable in this sense.  It would disqualify you for some benefits, maybe substantial ones.

Which brings us to the whole question of whether this actually is a benefit or just an earned payout at the end of a long, multi-generation time period.  Consider:

There are many reading this who are standard income tax payers and have done that for a long time, maybe even having an occupational pension coming up - this whole triple lock biz might not mean a lot to you but the thing is ... it does mean a lot to many voters ... that's the key word ... voters.

It's not just that the council elections are in two days but Starmer has issues at the top now too and thus the Reform v Labour tussle might mean a lot after Friday.  Plus there are so many now so thoroughly Ped off with all of it ... invaders too.

In other words, there's a quite volatile situation just now.