| T O P I C R E V I E W |
| pam.j |
Posted - 08 February 2011 : 10:07:16
Both husband and self will have to declare BR. We both receive OAP and and one other pension each plus a small annuity each (£22.40 and £29.40. We currently pay tax on our pensions. How will BR effect our pensions? |
| 4 L A T E S T R E P L I E S (Newest First) |
| pam.j |
Posted - 08 February 2011 : 14:24:56
Thank you all for your responses. Thats cleared up that query, no doubt there will be more.
Again, thank you
Pam. |
| Richard P |
Posted - 08 February 2011 : 13:41:00
Hi Pam
the important question is can you or anyone else take out a lump sum from the pension ?
If the OR can take a lump sum they will do so for the benefit of your creditors.
most occupational pension do not allow access to the fund until certain age and is therefor safe and protected.
if in doubt contact one of the experts
Richard |
| moodybluetwo |
Posted - 08 February 2011 : 10:50:48
I have a works pension....in my case the tax part has been given a NT (nil tax code ) untill April.This means I will not pay tax to HMRC but will have to keep it and pay it where the OR tells me it should go.The rest of the pension is classed as income on my SOAs. |
| Niobe |
Posted - 08 February 2011 : 10:45:07
Hi and welcome.
Your pensions will be taken into considerations when the OR looks at your disposable income. I don't think there will be a problem.
One of the experts will be able to advise further.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
