What percentage is taxed each year on your retirement penision income?

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What percentage is taxed each year on your retirement penision income?

2007-02-19 06:57:16 · 2 answers · asked by robin h 1 in Business & Finance ➔ Taxes ➔ United Kingdom

2 answers

Just noticed you are in the UK. In the USA, for most people, 100% of your retirement pension is counted as regular income and taxed at the regular rate. May be different in UK.

2007-02-19 10:11:56 · answer #1 · answered by Thinker 7 · 0⤊ 0⤋

Pension income is taxed as ordinary income. Depending on your total income, you might or might not owe any tax.

2007-02-19 21:49:16 · answer #2 · answered by Judy 7 · 0⤊ 0⤋