2007-11-16 10:43:27 · 3 answers · asked by theenforcer 2 in Business & Finance ➔ Taxes ➔ United States
No. Pensions are considered unearned income and are not subject to Social Security and Medicare taxes.
At least that is the way things are now. With a change of political power next year rather likely and the issues of Social Security's deficits in coming decades that could change at some point. But for now it's not subject to Social Security taxes.
2007-11-16 12:03:05 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
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RE:
Do you have to pay social security taxes from your pension once you retire?
2015-08-24 04:58:12 · answer #2 · answered by Cherye 1 · 0⤊ 0⤋
You do not have to pay social security taxes on pensions at any time.
2007-11-16 11:35:49 · answer #3 · answered by StephenWeinstein 7 · 1⤊ 0⤋
No. Social Security tax is only on earned income. You must be working. There will be income tax on the pension.
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2007-11-16 10:47:03 · answer #4 · answered by Barkley Hound 7 · 1⤊ 0⤋
You don't pay social security on pension income, just on income from working (for an employer or self-employed).
2007-11-16 12:09:14 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
Not quite sure what you mean, but your pension is at least partially taxable, and you might have to pay tax on part of the SS you receive. The details are too complicated to explain here.
2007-11-16 11:42:52 · answer #6 · answered by r_kav 4 · 0⤊ 0⤋
The big thing today is large families. Who will pay for all of them? It doesn't matter, we take care of our elderly. There's no reason to stop it 50% of the elderly lived in abject poverty before SS. Sorry money doesn't do a lot if you don't use it for good.
2016-03-16 08:15:04 · answer #7 · answered by Anonymous · 0⤊ 0⤋
no
2007-11-16 10:46:10 · answer #8 · answered by becvns@yahoo.com 2 · 0⤊ 1⤋