Pensioner writes epic summary of Tory state pension farce and outlines EXACTLY why he's voting Reform...

But one GB News viewer was left less than impressed after Defence Secretary Grant Shapps spoke on the channel about pensions under the Conservatives.

Ronald Warren wrote: "I heard on GB News Grant Shapps say pensioners would not be taxed on their State Pension, well I have news for Mr. Shapps, I am already paying tax on my state pension, as it exceeds the £12.500 threshold by some £1254.26.

"I have a small company pension, with an annual income of £7943.16, and two very small private pensions with a combined annual total of £882.48, giving me an annual income of £22,579.90.

"So as a pensioner, I am paying tax on £10,079.90. If Reform UK were to form the next government, I would only be paying tax on £2,579.90, so on that alone I think Mr. Shapps, you know where my vote is going."

Reform UK has pledged to lift the income tax start point to £20,000 per year, freeing up 7 million people from paying income tax.

Warren continued: "I consider myself lucky that I did pay into a pension scheme, but many haven't, and are solely reliant on their state pension, they too will soon be paying tax."

The Tories also said they would not extend National Insurance to employer pension contributions and they would maintain current pensioner benefits including free prescriptions, Winter Fuel Payments, free bus passes and TV licenses.

Speaking on GB News, Shapps said: "We’ll permanently scrap stamp duty and for pensioners, we’ll have the triple lock plus.

"That means your pension under the Conservatives, your state pension will never be taxed, unlike under Starmer who will tax your pension."

The Conservatives also cemented their commitment to the state pension with the "triple lock plus," which would see the personal allowance for pensioners increase at least 2.5 per cent or in line with the highest of earnings or inflation.

Today, the Labour Party published its manifesto pledging to review the pensions landscape to consider the "further steps" needed to improve outcomes and increase investment in UK markets.

Labour pledged to continue the state pension triple lock, but there was no mention of matching the Conservatives' triple lock plus pledge.

Jason Hollands, managing director at wealth management and professional services group Evelyn Partners said: "The long-term sustainability of the state pension and the triple lock is a nettle that all parties are reluctant to grasp, and an election campaign is the least likely time of all for such political bravery.

"Labour has, as expected, pledged to retain the triple lock but stopped short of matching the Conservatives’ rather ambitious ‘triple lock-plus’."

It comes after the Labour Party dropped the party's promise to reintroduce the lifetime allowance on pension savings.

This allowance imposed a limit on the amount people can save into their pots without paying tax.

LATEST NEWS:

• SNP to haemorrhage as Labour strengthens position in Scotland, polling shows
• GB News announces plans - Arlene Foster to front coverage on July 12
• Christopher Hope spots awkward spelling mistake in Labour's Election manifesto

Before April 6, 2023, Britons faced a tax charge of 5 per cent for taking lump sums out of their pot if they exceeded this allowance.

The Labour Party argue that over the last 14 years, the Tories have left pensioners worse off with "300,000 more pensioners living in poverty under the Tories."

Meanwhile, Reform UK states on their website that the current pension system is "riddled with complexity, huge cost and poor returns leading to lower pledges."

They have promised to stop larger care home providers from avoiding tax on millions of profits as well as a national plan for a sustainable social care system.