Ready, steady… save!
You don’t need a chart to join in. Here are 2 ways to record your savings:
1. Cross it off
Pop a chart into your first post. Saved an amount? Cross it out! Read more »
£0.01 £0.02 £0.03
2. Write it down
Skip the chart and add updates to your first post. Read more »
“Another +£3 saved today. Go me!”
Use +£ before each new saving so it counts towards your total.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Medical Pensions
coxy17
Posts: 68 Forumite
Good afternoon all, I hope this is the right area to post my question.
I was medically discharged from the Royal Navy earlier this year and have received a medical pension. It's not a great deal but will certainly help me over the years. I have two questions that I've probably heard the answers to at some point but can't remember them.
[1] Will I be taxed on my pension (I'm 28 and working as a civilian now)
[2] Will the pension be index linked
Any advice or help would be great.
Thanks.
I was medically discharged from the Royal Navy earlier this year and have received a medical pension. It's not a great deal but will certainly help me over the years. I have two questions that I've probably heard the answers to at some point but can't remember them.
[1] Will I be taxed on my pension (I'm 28 and working as a civilian now)
[2] Will the pension be index linked
Any advice or help would be great.
Thanks.
0
Comments
-
It depends mate.
Were you med discharged through an injury caused by service? If so you should be getting a service attributable invaliding pension, plus either a war pension if injury happened prior to 2006, after you should be getting a GMP.
If this is the reason, your pensions will be tax free and increase yearly every April, based on the previous septembers CPI rate.
If you are just unfit for service for othervreasons, I think you're taxed.
Good luckOpinions are like bottoms - We all have one, just some stink more than others
Service Attributable Pension - War Pension - War Pensioners Unemployability Supplement - War Pensioners Invalidity Allowance - War Pensioners Comforts Allowance - War Pensioners Mobility Allowance - War Pensioners Child Allowance - Housing Benefit - Council Tax Benefit0 -
Contact The White Ensign Association, they should be able to answer all your questions.
http://www.whiteensign.co.uk/wordpress/0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.9K Banking & Borrowing
- 255K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.4K Work, Benefits & Business
- 606.1K Mortgages, Homes & Bills
- 179.1K Life & Family
- 264K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards