Topic: | Taking my State Pension - help please ! | |
Posted by: | Maggie Dodge | |
Date/Time: | 08/05/15 15:48:00 |
I may be asking too much but I really am confused as to whether or not to take my State Pension, bearing in mind I am still working part-time. I understand that if I don't take it they will tax the lump sum I'm due after a year. If I do take it then the amount they give me as a State Pension will reduce the amount I am allowed to earn before tax. Can any one tell me if either is better from a tax point of view? I had planned to save the pension money in an ISA but now not sure which way to go. I hope I have explained that clearly and there is a fairly easy answer. For anyone who feels the need to tell me I'm an idiot please don't bother, I don't have a problem admitting my shortcomings. |