Thousands of pensioners forced to claim back huge amounts in emergency tax

Some retirees are losing more than £50,000 in emergency tax when they withdraw money from their pensions, which then has to be clawed back from HMRC.

Older woman and man looking at paperwork and laptop
(Image credit: Getty Images)

Pensioners are being hit with eye-watering amounts of emergency tax when they draw a retirement income - with some being overcharged by more than £50,000.

A freedom of information request by the insurer Royal London reveals the full scale of HMRC’s emergency taxing of pensioners

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.