Working (non teaching) in retirement

jimmymonty

I took early retirement from the teaching profession in 2010. I am now looking to do a little part time/casual work, perhaps exam invigilation or script marking. Will this impact on my modest pension? How will my tax and NI be calculated for my pay and to what extent will my pension income be taken into account? I pay tax on my pension but no NI.
Thanks
JM

anamenottaken

jimmymonty wrote: »

I took early retirement from the teaching profession in 2010. I am now looking to do a little part time/casual work, perhaps exam invigilation or script marking. Will this impact on my modest pension? How will my tax and NI be calculated for my pay (your employer will deduct tax. They will deduct NI if you are under state retirement age and also at the time you are paid receive above the NI earnings threshold for that pay period) and to what extent will my pension income be taken into account? I pay tax on my pension but no NI. (You don't pay NI on pensions. Your pension income and your other earnings/interest/dividends are all subject to tax and all this is added to determine the amount of tax due - just as it was before you retired.)
Thanks
JM

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jimmymonty

Will my weekly pension income be taken into account re NI? The amount I would earn from casual work would not take me above the NI threshold by itself.

Savvy_Sue

jimmymonty wrote: »

Will my weekly pension income be taken into account re NI? The amount I would earn from casual work would not take me above the NI threshold by itself.

No, as stated already income from pensions isn't liable to NI.

Also NI doesn't work the same way as tax: each separate employment is subject to NI, so if you have two jobs under the NI limit, then you pay no NI. If you have one job over and one under, you pay what's due on the 'over' job, and none on the under. In fact you can save a little bit of money by working two p/t jobs rather than one f/t.