£300 bank deduction for UK pensioners

The HMRC has issued a major update that will directly impact thousands of pensioners across the UK. Starting from 27 October, a £300 deduction will appear in the bank accounts of selected pensioners as part of a new financial adjustment rule. While many assumed this to be a penalty, HMRC clarified that it is a … Read more

UK Government and HMRC have officially confirmed a new rule that will affect millions of pensioners from 27 October 2025. Under this updated measure, a £300 bank deduction will be applied to certain pension-related accounts, as part of a broader effort to streamline overpayments, prevent fraud, and adjust financial reporting systems. This has caused widespread … Read more