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Monday, 17 July 2017

Myth of 'something for nothing' pensioners

Pensioners are reported to be paying almost a third of their income in tax, according to the latest figures from the Office of National Statistics. The bill is made up of direct taxes which includes income tax and council tax, costing an average £3,050, and indirect taxes which include VAT, insurance premium tax and vehicle excise duty which cost an average of £4,360.

Dot Gibson, Deputy General Secretary of the National Pensioners Convention (NPC) said: "All pensioners pay indirect taxes and around half still pay income tax, so when some in the media argue that older people are somehow getting something for nothing - it’s complete nonsense." 

As well as paying tax, the older generation also contributes in excess of £40bn every year more than the cost of pensions and benefits through volunteering and unpaid caring.

Info from the NPC's July Bulletin - borrowed with thanks.

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