New figures show that pensioners pay more than £24 billion in tax every year, with the average pensioner bill standing at £3,500 per annum.
Insurer Royal London, which published the report, said these figures prove that pensioners continue to be of interest to the tax man long after they’ve retired.
The study shows that between the mid-1990s and the mid-2010s, the number of taxpayers over the age of 65 nearly doubled from 3.32 million in 1995-96 to 6.49 million in 2015-16.
The data, obtained via the Freedom of Information Act, contains a detailed breakdown of pensioner taxpayers across the UK, including around 400,000 women over the state pension age but under the age of 65.
Its key findings show that the average tax bill per pensioner is £3,522. When split by gender, the average tax bill is £4,341 for men and £2,467 for women.
Meanwhile, more than a quarter of taxpaying pensioners are still in paid work, with around 1.5 million on payroll with a further 0.5 million in self-employment.
In total, pensioners paid around £24 billion in tax in 2015/16.
Commenting on these findings, Steve Webb, Director of Policy at Royal London said: “Many people might assume that once you retire you cease to be of interest to the taxman.  But these figures show that this is very far from being the truth.
“The number of taxpaying pensioners has nearly doubled in the last two decades.   With talk of also requiring pensioners to pay National Insurance on any earnings or even pensions, the older population may start thinking of themselves as ‘Generation still taxed’.   When planning for retirement it is vital to remember that the tax office will still want a slice of your income, which reinforces the need to put aside enough to secure a decent standard of living, even after the tax man has had his slice.”