
Patrick O'Donnell
Finance Reporter at GB News
Finance Reporter - GB News Contact: [email protected]
Articles
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5 days ago |
gbnews.com | Patrick O'Donnell
European countries are offering their older citizens nearly £8,000 more annually towards the equivalent state pension compared the amount received by British pensioners. Iceland offers the highest pension in Europe at £20,063.08 per year, more than £8,000 above the UK's annual state pension of £11,973. According to the Organisation for Economic Cooperation and Development, Iceland's full basic pension is valued at ISK 3,439,428, equivalent to 31 per cent of average worker earnings.
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5 days ago |
gbnews.com | Patrick O'Donnell
State pensioners face "new challenges" in the years to come as thousands are at risk of being taxed on their retirement payments alone, new research has found. New HM Revenue and Customs (HMRC) figures reveal that 37.7 million people paid income tax in 2024/25, marking a significant increase of six million taxpayers compared to 31.5 million in 2019/20. The number of income taxpayers also rose by 1.4 million from the previous year.
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6 days ago |
msn.com | Patrick O'Donnell
Microsoft Cares About Your PrivacyMicrosoft and our third-party vendors use cookies to store and access information such as unique IDs to deliver, maintain and improve our services and ads. If you agree, MSN and Microsoft Bing will personalise the content and ads that you see. You can select ‘I Accept’ to consent to these uses or click on ‘Manage preferences’ to review your options and exercise your right to object to Legitimate Interest where used.
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6 days ago |
gbnews.com | Patrick O'Donnell
The Government has announced pension reforms that could boost workers' retirement pots by £6,000 through the creation of pension megafunds managing at least £25 billion in assets. This proposed shake-up, outlined in the Pension Schemes Bill on Thursday, relates to defined contribution pensions that invest workers' regular payments in stocks, shares and other assets.
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1 week ago |
gbnews.com | Patrick O'Donnell
Analysts are sounding the alarm over potential tax rises from Chancellor Rachel Reeves ahead of the Government's spending review on June 11. Prime Minister Keir Starmer has hinted Labour is considering at least a partial reversal of its previous pledge to means-test the Winter Fuel Payment for pensioners. Furthermore, reports suggest Reeves is planning a spending splurge across Red Wall constituency seats in an attempt to fend off the electoral threat posed by Reform UK.
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Yorkshire Building Society warns Britons face losing £360bn savings boost after shock inflation rise https://t.co/c8ViQTJuQd

Nationwide Building Society announces ANOTHER wave of mortgage rate cuts - full list of deals https://t.co/3JZamNrvXl

'Disastrous!' Pensioners 'in trouble' as Labour pledges to means-test Winter Fuel Payment https://t.co/DcAZs1r0Ug