Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Browntoa
    • By Browntoa 14th Apr 19, 11:38 AM
    • 35,062Posts
    • 41,149Thanks
    Browntoa
    Which?: Half a million risk state pension tax hike
    • #1
    • 14th Apr 19, 11:38 AM
    Which?: Half a million risk state pension tax hike 14th Apr 19 at 11:38 AM
    Which?: Half a million risk state pension tax hike Which? News.


    https://www.which.co.uk/news/2019/04/half-a-million-risk-state-pension-payments-slashed-by-unnecessary-tax/
    Last edited by Browntoa; 16-04-2019 at 1:25 PM.
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's , Boost your income and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
Page 1
    • p00hsticks
    • By p00hsticks 16th Apr 19, 9:20 AM
    • 6,943 Posts
    • 7,598 Thanks
    p00hsticks
    • #2
    • 16th Apr 19, 9:20 AM
    • #2
    • 16th Apr 19, 9:20 AM
    Originally posted by Browntoa
    I think the thread title contradicts the article - it should be 'Half a million risk state pension tax hike if they DON'T defer it' - the half a million being people who continue working after state pension age but don't delay claiming their state pension.
    • Browntoa
    • By Browntoa 16th Apr 19, 1:25 PM
    • 35,062 Posts
    • 41,149 Thanks
    Browntoa
    • #3
    • 16th Apr 19, 1:25 PM
    • #3
    • 16th Apr 19, 1:25 PM
    Ammended.....
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's , Boost your income and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • PennyForThem
    • By PennyForThem 16th Apr 19, 4:18 PM
    • 583 Posts
    • 531 Thanks
    PennyForThem
    • #4
    • 16th Apr 19, 4:18 PM
    • #4
    • 16th Apr 19, 4:18 PM
    All due to personnal circumstance, isn't it? I deferred until I reduced my hours. The state pension now makes up for the salary I am missing.

    My tax bracket is always going to be what it is. I also don't believe that your expenditure reduces when you leave work -- much. (it does reduce a little but not if you want to enjoy yourself)
    • Pollycat
    • By Pollycat 17th Apr 19, 7:52 AM
    • 22,649 Posts
    • 61,251 Thanks
    Pollycat
    • #5
    • 17th Apr 19, 7:52 AM
    • #5
    • 17th Apr 19, 7:52 AM
    I don't agree it's unnecessary tax.
    Over half a million people who work beyond retirement age could be paying unnecessary tax on their state pension, according to new research published by insurer Royal London.
    Why wouldn't you expect to pay tax if your total income puts you over your tax-free allowance?

    Do some people believe that the state pension is not taxable?
    • Flugelhorn
    • By Flugelhorn 17th Apr 19, 7:55 AM
    • 1,417 Posts
    • 1,885 Thanks
    Flugelhorn
    • #6
    • 17th Apr 19, 7:55 AM
    • #6
    • 17th Apr 19, 7:55 AM
    this assumes that any private / work pensions don't already mean that the state pension will be wholly taxed
    • agrinnall
    • By agrinnall 17th Apr 19, 8:37 AM
    • 22,823 Posts
    • 18,834 Thanks
    agrinnall
    • #7
    • 17th Apr 19, 8:37 AM
    • #7
    • 17th Apr 19, 8:37 AM
    I note that there are comments from Steve Webb, who was Minister of State for Pensions in the ConDem coalition, so why didn't he do anything about it then? No doubt for fear of jeopardising his opportunities to be paid megabucks when moving into the private sector when he inevitably lost his seat at the next election.
    • Pollycat
    • By Pollycat 17th Apr 19, 8:49 AM
    • 22,649 Posts
    • 61,251 Thanks
    Pollycat
    • #8
    • 17th Apr 19, 8:49 AM
    • #8
    • 17th Apr 19, 8:49 AM
    Pretty clear:

    Whats taxed

    You pay tax if your total annual income adds up to more than your Personal Allowance. Find out about your Personal Allowance and Income Tax rates.
    Your total income could include:
    https://www.gov.uk/tax-on-pension
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,925Posts Today

8,123Users online

Martin's Twitter
  • This is why I wrote the guide to financial abuse. It's tough to know when it's happening to you. It's also worth? https://t.co/XGI2sI7hOU

  • RT @David_Challen: Really happy @MartinSLewis is raising awareness of economic/financial abuse. My mother cleaned her cousins home for poc?

  • Has anyone successfully reclaimed PPI on behalf of a deceased relative. I'm doing a blog on how to do it, and I'd? https://t.co/PHXJXCzvc6

  • Follow Martin