A freedom of information request by Webb revealed that nine out of ten pensioners who pay tax do so at the basic rate of 20 per cent.

Source: https://www.dailymail.co.uk/money/markets/article-12205777/Stealth-tax-snares-army-pensioners-Thousands-clutches-HMRC.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Labour said the policy would mean that people with more than 1.4 million pounds ($1.7 million) in their pension pot would pay a total of around 150,000 pounds less in tax, at a time when basic rate taxpayers are facing higher tax bills.

Source: https://cyprus-mail.com/2023/03/16/uks-labour-attacks-planned-pension-changes-as-giveaway-to-the-rich/

Once this allowance is exceeded, savers pay tax on their interest at their rate of income tax – in other words 20 per cent for basic rate taxpayers and 40 per cent for higher-rate taxpayers.

Source: https://www.dailymail.co.uk/money/saving/article-12299779/More-1-7m-savers-face-tax-bill-heres-cut-yours.html?ns_mchannel=rss&ns_campaign=1490&ito=1490