Quizzes & Puzzles5 mins ago
Tax on pensions
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I am a 60 year old male who retired at the age of 57. I have an indexed linked final salary pension currently paying �33000 per annum. I checked my state pension entitlement and can confirm that I will receive the full amount at NRD. A friend is insisting that I will lose 50% of my state pension as a result of inland revenue requirements. Is this true? Surely I will only pay the standard rate of income tax applicable at the time. (some possibly in the 40% bracket)
Mr D Hendy
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