Tonip Posted August 9, 2019 Share Posted August 9, 2019 Hi, i am 60 years young and i have just applied for my nhs section 1995 pension. This includes a uk tax free lump sum. I am a tad concerned about losing most of lump sum and ongoing pension payments to tax. Has anyone experience in this situation or any ideas as to how i can keep most of my money? Thanks. Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted August 9, 2019 Share Posted August 9, 2019 Following. I am 60 next year and my Civil Service Pension can be applied for. My understanding was that the taxable element was the growth in the lump sum since I moved here in 2015 rather than the entire amount being taxable. Hopefully someone with knowledge of this will clarify for us. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted August 11, 2019 Share Posted August 11, 2019 Yes, an Applicable Fund Earnings calculation is likely to be required. Maybe speak with an accountant who can help prepare the computation? Best regards. Quote Link to comment Share on other sites More sharing options...
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