savings while retired.

[thistles]

Can anyone tell me how much a single retired person can have saved in the bank before it gets taxed or whatever, I already pay tax on a very small personal pension,and get single persons pension and it is made up with a small amount of pension credit to give me the correct amount due to live on.

[buildersmate]

Interest from a bank or Building Society is normally taxed at source.
This means that basic rate tax has already been paid on the interest before you get it.
Unless your pensions take your earnings to the point where you are paying higher rate tax on some of the amount, you have no worries.
That canot be your situation if you are entitled to a bit of pension credit.

[thistles]

Thank you very much for explaining this to me, it has put my mind at rest.
Ta MuchlyXXXXXXXXX