POLL: Should pensioners be exempt from income tax? Vote here

Chancellor ' first Labour Budget on Wednesday, October 30, promises "difficult decisions" on tax, spending and benefits.

Concern is growing that pensioners, already hit by scrapping winter fuel payments, could see their pillaged by an increase to income tax.

Under the current system, you don't pay tax when putting money into a pension - but you do when you come to take that money out, much in the way you do when you earn an income.

Under the current system, you receive pension tax relief at the same rate as your bracket - , according to some forecasts.

But should pensioners be exempt from paying income tax altogether? Vote in the poll below and.

People who pay into private or workplace pensions get tax relief on their contributions up to a certain amount, boosting the amount saved.

At the moment, savers receive tax relief at the same rate as their income tax - so basic rate taxpayers get tax relief at 20 percent and higher rate taxpayers at 40 or 45 percent.

The Government could introduce a single flat rate of relief which would make the system less generous for higher earners.

The threshold at which a could also be reduced.