Pensions: Income Tax
Commons · Question 95483 · Tabled 28 Nov 2025 · Treasury · Official record
Answered 4 Dec 2025
Question
Asked by Euan Stainbank
To ask the Chancellor of the Exchequer, whether the exemption for basic or new state pension to not have to pay small amounts of tax through simple assessment from April 2027 will apply to recipients of the State Earning Related Pension Scheme.
Answer
Answered by Torsten Bell, 4 Dec 2025
The State Pension is taxable income along with other pension income. As the State Earnings-Related Pension Scheme (SERPS) is extra money on top of the basic State Pension, it is also taxable. The Budget has confirmed that the basic and new State Pension w...