- Location
- Somewhere wet & hilly in NW England.
I thought Mo received a private pension so answered her post on that basis.
And then wrongly carried that premise over to your post - apologies.
The Retirement Thread
- Thread starter Dirk
- Start date
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I thought Mo received a private pension so answered her post on that basis.
And then wrongly carried that premise over to your post - apologies.
welsh dragon
Thanks but no thanks. I think I'll pass.
welsh dragon
Thanks but no thanks. I think I'll pass.
BoldonLad
Not part of the Elite
- Location
- South Tyneside
The 4% gives a figure of £460pa rise, according to BBC. However, that is for those who reached retirement age after 2016, and, are on the "new" State Pension. For those who reached retirement age before 2016, and, are on the "old" State Pension, the rise is only £353.60pa.
I have 2 small company pensions which total about £3,500 so not a lot.
BoldonLad
Not part of the Elite
- Location
- South Tyneside
As far as I am aware, there is no mechanism to deduct tax PAYE style from State Pension. If you have a Private and/or Works Pension, they deduct the tax from that.
In my case, before retirement, I was on "Self Assessment" (I assume because I was self employed?). after seeing the almighty mess they made of Mrs @BoldonLad's tax after retirement, I have opted to stay on Self Assessment. It means I have the chore of completing a tax return (online) each year, but, at least I can easily double check HMRCs figures.
oops, I see Spokey beat me to it
Mo1959
Legendary Member
- Location
- Perthshire,Scotland
I was just contemplating another little wander before tea but the wind is really strong and I see some rain blowing through it now too, so not sure if I’ll bother.
BoldonLad
Not part of the Elite
- Location
- South Tyneside
This morning, we had to collect our Motorhome from the Dealer, after repair. It is a bit of a journey (17 miles on public transport, metro and bus), but, Mrs @BoldonLad regards it as a bit of an adventure, and, tags along for the journey.
As it happens, it all went quite smoothly, connections were made without a hitch.
So, it appeared we would be there too early.
I had the bright idea of getting off the final bus a few stops before our destination, and have a little walk.
As the bus drove off, leaving us at the bus-stop, I began to realise just how windy it was. Mrs @BoldonLad noticed too of course, as she struggled to actually stand up in the wind.
My bright idea was not greeted with approval shall we say.
- Location
- Somewhere wet & hilly in NW England.
As far as I am aware, there is no mechanism to deduct tax PAYE style from State Pension. If you have a Private and/or Works Pension, they deduct the tax from that.
In my case, before retirement, I was on "Self Assessment" (I assume because I was self employed?). after seeing the almighty mess they made of Mrs @BoldonLad's tax after retirement, I have opted to stay on Self Assessment. It means I have the chore of completing a tax return (online) each year, but, at least I can easily double check HMRCs figures.
oops, I see Spokey beat me to it
For the same reason, I stayed on Self Assessment too.
numbnuts
Legendary Member
- Location
- Gone over the hill and far away
or £38.70 a month 
Last edited:
gavroche
Getting old but not past it
- Location
- North Wales
My state pension is not taxed as it is below the annual allowance but my small private pension is taxed at source. My invigilating work is also taxed at source but that's only a few weeks a year.
Posh git.
No need to apologise. I often make boo boos as you all know only to well.
I never noticed.
BoldonLad
Not part of the Elite
- Location
- South Tyneside
Creep 😊
