Osborne takes a 30% bite out of pensioner income

Sarah Coles
Chancellor George Osborne
Chancellor George Osborne

When you've spent your working life paying a huge chunk of everything you earn in tax, you'd be forgiven for thinking that in retirement the Treasury's needs ought to take second place to your own. However, new research reveals that the average retired household still loses 30% of all its income to George Osborne.

So how is he taking this cash, and can anything be done to stop him?%VIRTUAL-SkimlinksPromo%