How tax is collected on the state pension
The state pension is taxable. Here we look at how tax is collected on the state pension.
The state pension is taxable. Here we look at how tax is collected on the state pension.
The state pension is taxable but unlike private pensions, the state pension has no tax taken off before it is paid to you. Here we look at what tax is payable on state pension payments.
National Insurance is very important for the purposes of claiming the state pension. On this page we look at how your National Insurance record plays a part in your entitlement to this state benefit later in life.
If you access your pension pot flexibly, then income tax will usually be payable. Here we look at how tax is collected and some problem areas to be aware of.
Certain pension income is tax-free. This page gives an overview of tax-free UK pension income (or pension related income).
Some small occupational pensions can be cashed in under what are called the ‘trivial commutation’ rules. Also, pensions with small values may, in some cases, be cashed in as a lump sum under separate rules which apply to ‘small pots’ (these are not the same as the flexible pensions rules). If ...