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Lump sum Question
penquest
Posts: 4 Newbie
Is the lump sum i receive from a pension classed as earnings?
i know it sounds strange, but as my daughter is at uni the amount I earn reflects in the grant she receives.
i know it sounds strange, but as my daughter is at uni the amount I earn reflects in the grant she receives.
0
Comments
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the 25% TFLS? No, it would be classed as savings.
Any money taken from pension after the TFLS will be classed as income.0 -
But do notice the difference between "earnings" and "income". Any pension income beyond the lump sum still might not count as earnings because it isn't earned income.0
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Thanks for this, I will continue to work part time after taking pension to supplement. The lump sum is tax free as part of my final salary pension.0
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