RIS are delighted to announce that several local publications have invited us to be their featured "Retirement Expert" .
This will involve answering questions from readers on all aspects of pensions, investments and current legislation every month.
Take a sneak preview of our first article below
Do I pay tax on my State pension?
Possibly – any pension that you receive from the State (including the basic Old Age Pension) counts towards your taxable income but you will only pay tax on it if your total income is more than your Personal Allowance.
However if there is any tax due on your State pension it is never deducted from the State pension itself – instead it will be deducted from any other pensions that you may receive or, if you don’t receive any other pensions or income, then you will have to pay the tax separately after the end of each tax year.