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Paying tax on pension withdrawl
flow2
Posts: 38 Forumite
If I take the 25% tax free lump sum out of my private pension when I retire, in 4 years time, age 60 and then take the rest monthly - do I still pay tax on the monthly figure, even if I am not earning any money from work etc., the pension will be my only money coming in until I am 67 when my state pension kicks in.
Thank you in advance.
Thank you in advance.
0
Comments
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Whether you pay tax depends on how much your pension is each month
Try this calculator https://www.moneysavingexpert.com/tax-calculator/0 -
The income is subject to tax. You can get all or part of your personal tax allowance set against the pension just as you do with your employment.0
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