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.
Many people claim their state pension as soon as they reach state pension age. But you have the option of deferring your pension. State pension deferral means that you delay claiming, or stop receiving your state pension, until a time that suits you.
This page explains what tax is applied to a state pension lump sum, which you might receive if you reached state pension age before 6 April 2016 but chose to defer (that is, delay or put off) receiving your state pension until a later date.
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.
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.
Certain pension income is tax-free. This page gives an overview of tax-free UK pension income (or pension related income).