Do Pensioners pay tax on their pension

Damscooguns73

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Concerning if pensioners pay taxes on their pensions. Well ,I dont think or doubt If pensioners pays taxes with their pensions because the tax allowance are always removed from government workers salaries every month, it is like an automatic system that occurs without a miss in month kn their salary, so pensioners enjoy their pension money to theirselves and family
 

Chumzy

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One factor to be considered is if it has been taxed before. If yes then income tax as an obligation might not be necessary. But then I am pretty sure that there will be withholding tax on any interest.
 
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Briangsam

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No. I don't think pensioners pay tax on their pension. This is because they have paid taxes on their salaries during their service years. So it won't make sense and an act of theft to deduct taxes over their pension again.
 

GIFTMICHAEL

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Collecting tax from them will be a double tax collection. During the time they were still active in the service they paid tax monthly and in that same monthly salary part of it was used to save for pension plan for them.
 

Sake

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They don't really take tax on your direct pension since they already got it from the pays on your work so it's basically like a part of your salary before. I haven't heard about those fees on my grandmother's pension. But im not sure about private pensions. All I know is about the government workers one.
 

Bholozy

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No.it will mean deducting tax twice. Tax have been deducted before paying to the pension administrator any other tax on this money will result in double taxation. Therefore pensioner are totally paying any tax directly. Although they also pay tax on goods they buy which is indirect tax and not direct
 

Sariana23

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Collecting tax from them will be a double tax collection. During the time they were still active in the service they paid tax monthly and in that same monthly salary part of it was used to save for pension plan for them.
You are right @GIFTMICHAEL , when you are an active worker you pay taxes, after retirement when you receive your pension there is no way to pay taxes again. Seniors receive their pension in full and the only discount that is made is that of the banks for the transaction.
 

Setho

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A lot of people are now coming with the disguise of pension scheme companies. You should avoid all these platforms if they are solely online, do not have affiliation with an offline company or are not registered within the country .
 

Senator

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I am not too sure. But I want to believe they should be paying taxes since they are citizens of that country and collecting income from it.
 

Shigobad2020

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I plan to retire at the age of 60 and start collecting pensions every month.
I want to know if my pension fund is regarded as a taxable income. Will money be deducted from my pensions as tax or not.
In my country, pensioners don't pay tax directly but i believe they always deduct it from their gratuity and pensions be for paying them, do they don't really pay tax in my country.
 

Chibson

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I don't think pensioners pay tax. Only workers pay taxes and of course, but if there's any it's isn't paid individually but through mobile phone charges and others.
 

Kelly5

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Tax from my experience as it relates to those on pensioners, are not been deducted from their pensions. The pension fund manager I suppose already pays such tax
 

Jesuyemi 08

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Directly they don't, This is because tax were deducted from workers pay during their service years, although the pension management company pay tax to the government on the fees the charge pensioners for managing their funds.
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If this is true about non removal of tax from pension, it would be a good thing for pensioners because I don't think there would be much left if tax is imposed on it.
 

Eodine

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Yes. Tax is usually deducted from a pensioner's contribution prior to the time of his requirement in most countries. But also some companies pay the tax on behalf of their employees.
 

Victor001

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Every government institution pays tax's,as long as the money is coming from the government, so pensioners are liable to pay tax,it's always deducted from their general pay.
 

GIFTMICHAEL

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You are right @GIFTMICHAEL , when you are an active worker you pay taxes, after retirement when you receive your pension there is no way to pay taxes again. Seniors receive their pension in full and the only discount that is made is that of the banks for the transaction.
Yeah, one pays taxes during active service years. Even after service years the tax payment continues. As a pensioner, and a citizen of the country you'll be obliged to carter for taxes until end of time.
 

Sariana23

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Yeah, one pays taxes during active service years. Even after service years the tax payment continues. As a pensioner, and a citizen of the country you'll be obliged to carter for taxes until end of time.
In my country, the payment of tax for pensioners is exempted. Maybe in other countries they charge it and that can happen. With a constant struggle of the pensioners they managed to eliminate such taxes on the pension, surely they will have to pay taxes for other reasons but not for their economic benefits.
 

GIFTMICHAEL

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In my country, the payment of tax for pensioners is exempted. Maybe in other countries they charge it and that can happen. With a constant struggle of the pensioners they managed to eliminate such taxes on the pension, surely they will have to pay taxes for other reasons but not for their economic benefits.
The tax they're paying isn't for their economic benefits in the nation, rather it is for other stuffs, which they make use of, or consume.
 

Mostee501

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Pensioners do not pay tax on the pension funds the recieve because they had already done so during their service years. Definitely the pension organisations pay tax to the government.
 

Victor72

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Over here in my country pensioner do not pay tax from their pension, pensioners are not charge pay tax here in my country, it is only employee who pays tax
 
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