Pensioners pay 11% of UK income tax

It's been estimated that the average pensioner pays £3,285 each in income tax every year, giving a total of £17.5 billion a year, which represents a surprising 11% of all the income tax collected in the UK. To make things worse, there's a very real risk that many of them are paying far more income tax than they should.

Financial journalist Sarah Coles suggests five ways of cutting pensioners' income tax bills - click here.