Pensioners across the UK are being told to brace themselves ahead of a pending “retirement tax” on their state pension payments within the next two years, according to new research. The new Government, under Prime Minister Keir Starmer’s Labour Party, has pledged to keep the level at which tax thresholds frozen until 2027-28 with the personal savings allowance to remain at £12,570. Experts are sounding the alarm over fiscal drag which takes place when incomes or savings rise during a time when tax allowances are frozen. This results in Britons being dragged into higher tax brackets and losing …