August 2026
28Aug

UK. Income tax blow for retirees who delayed state pension

People putting off their state pension to earn a little extra are likely to see it taxed under new rules, according to analysis. The state pension is set to grow larger than your personal allowance from next year, meaning some of it will be subject to income tax. The government has promised an exemption for people who rely on the state pension as their source of income, but it appears this will not include those who delayed taking it in order...

August 28, 2026
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07Aug

The macroeconomic and fiscal impact of population ageing

By Katalin Bodnár & Carolin Nerlich The euro area, like many other advanced economies, has entered an era of drastic demographic change. Without appropriate policy responses, population ageing in the euro area is posing formidable challenges for potential growth, monetary policy and public finances. This paper examines – from a central bank’s perspective – the macroeconomic and fiscal effects of population ageing in the euro area and looks at the main challenges ahead in the next decades. Total population in the...

August 7, 2026
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07Aug

Bequest-Motivated Decumulation of UK Pensions for Non-Domiciled Individuals: A Monte-Carlo and HJB Approach

By Sebastien Hitier We study the optimal decumulation of a UK pension pot for an expatriate holder who is tax-resident in a jurisdiction that does not tax investment income or gifts. Because the pension wrapper offers no ongoing tax shelter to heirs, the holder's sole objective is to minimise the expected present value of lifetime taxes-personal income tax on drawdowns plus inheritance tax at death. We formulate the problem as a stochastic optimal control with Gompertz-Makeham mortality, progressive UK taxation,...

August 7, 2026
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04Aug

UK. State pensioners on track for up to £539 extra cash in next triple lock boost

New state pensioners are in line for a huge boost to their annual benefit income - but will avoid a tax bill from HMRC for at least one more year. New state pensioners are in line for a boost to their state pension worth nearly £539 year. That's because the Triple Lock forecasts show that right now, the benefit is set to increase by 4.3% next year. The new state pension was introduced in 2016 and applies to all men born after April 5, 1951 and women...

August 4, 2026
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July 2026
06Jul

Aging Alone? What Living Single Means for Retirement Taxes

Traditional retirement planning has long assumed a household of at least two people and often the involvement of adult children in managing financial decisions later in life. But more and more, that assumption no longer applies to a growing share of retirees. Surveys and data show that many people living in the U.S. are charting a different course, with roughly 1 in 5 over the age of 50 living alone. (That number rises to 27% for those age 60 and...

July 6, 2026
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May 2026
25May

UK Pensioners Suffer Heavy Tax Losses as 462,000 Rush to Withdraw Savings

Hundreds of thousands of British retirees are inadvertently surrendering significant portions of their life savings to HM Revenue and Customs, as an unprecedented rush to withdraw pension cash exposes catastrophic flaws in national retirement guidance. Startling data published annually by the Financial Conduct Authority reveals a 29 percent surge in the number of individuals cashing out their entire pension pots. Driven by unrelenting cost-of-living pressures and highly restrictive legacy financial products, retirees are triggering massive, entirely avoidable tax liabilities that...

May 25, 2026
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08May

New HMRC tax rules coming for DWP state pension after Labour update

New tax rules are coming on the Department for Work and Pensions ( DWP ) state pension from 2028, it has been warned. Labour Party minister Torsten Bell has confirmed the shake-up as he responded to a question in the Commons. Mr Bell responded to fears the state pension - which is already dangerously close to breaching the personal tax-free allowance - could rise further with the Triple Lock next year, taking it over the threshold. Euan Stainbank reached out "to ask the Chancellor of...

May 8, 2026
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April 2026
29Apr

Australia. Solving the $326 billion ‘stranded’ pension asset problem

More than 1.5 million Australians aged 65 and over have left money sitting in superannuation accumulation phase, paying tax at 15 per cent on investment earnings when they could be in the tax-free pension phase and receiving higher retirement income. A dialogue paper published by the Actuaries Institute, It’s Time: Here’s How to Turn Superannuation into a Retirement Income System, puts the aggregate value of those “stranded” balances at $326 billion. the additional tax cost to those individuals exceeds $2 billion...

April 29, 2026
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20Apr

UK. Chancellor warned against tax raid on pension pots

The boss of Britain's largest pensions firm urged Rachel Reeves to rule out a tax raid on retirement pots, as she faces mounting pressure to boost defence spending. Standard Life chief executive Andy Briggs said savers needed certainty that the pension tax system is not 'going to keep changing' so they can plan properly for later life. 'My view is that pensions need a multi-decade policy approach,' he told the Daily Mail. 'If you get speculation each year, if there's any sort...

April 20, 2026
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10Apr

The Impact of Ageing on the Fiscal Sustainability of EU Health Care Systems: Projections and Policy Responses

By Boriana Goranova & Santiago Calvo Ramos  This Economic Brief analyses the effects of the expected population ageing on the public expenditure on health care in the EU, discusses the different policy options and finally describes the activities in this field by the European Commission. Get the report here  

April 10, 2026
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