Bigbob Posted November 18, 2021 Report Share Posted November 18, 2021 When i hit 60 a few months back i put in for my MOD pension after filling in all the details the last page is from HMRC . Do you have any other pensions ? Will you be getting any other pensions in the next 12 months ?. Filling in my work pension papers , last page the same thing same questions The government are making sure they get the tax back there due on money i already have paid tax on They already have this information ?? this there way of double checking it ?? Quote Link to comment Share on other sites More sharing options...
Agriv8 Posted November 18, 2021 Report Share Posted November 18, 2021 It’s partly tax but maybe not in the way you were thinking ! it around the murky world of big pensions and lifetime allowance but believe that’s the main reason they are asking the questions AFAIK search up lifetime allowance explained if you want to know more Agriv8 Quote Link to comment Share on other sites More sharing options...
scouser Posted November 18, 2021 Report Share Posted November 18, 2021 When you contribute to a pension, you get tax relief on your contributions, then when you draw your pension,that’s when they tax it. Quote Link to comment Share on other sites More sharing options...
old man Posted November 18, 2021 Report Share Posted November 18, 2021 Triple lock gone, HS2 white elephant to fund? Maybe penalise everyone but themselves? Look up which MP's voter to remove? Quote Link to comment Share on other sites More sharing options...
matone Posted November 18, 2021 Report Share Posted November 18, 2021 (edited) My Gov pension projection showed that they are going to deduct what they say would have been produced by a private pension that I cashed in as it wasn`t going to produce much !!! So I`m being penalised for moving my own hard earned .......guess that`s `levelling up` for you !!!!! Edited November 18, 2021 by matone Quote Link to comment Share on other sites More sharing options...
Bigbob Posted November 18, 2021 Author Report Share Posted November 18, 2021 How much of your alowance have you used already 14.66% I put see what they say Quote Link to comment Share on other sites More sharing options...
Agriv8 Posted November 18, 2021 Report Share Posted November 18, 2021 (edited) 18 minutes ago, Bigbob said: How much of your alowance have you used already 14.66% I put see what they say Big bob unless you have a fancy pension vehicle or other large pension pots you are unlikely to bust the lifetime allowance if there was a risk it is best practice for the pension fund to inform you that this could happen an seek financial advice before you retire . This is why I suspect the 14.66 % was on your retirement papers So I may be wrong but I am guessing you mod pension does not relate to rank of colonel or major or any of tge other high officer ranks. And you had 50 years service in ! tax on you pension should sort itself out but can take a bit of time if you are being paid pensions from multiple sources hmrc did used to have a specific tax line for pensioners not sure if it is still going . Wishing you luck in getting it sorted Agriv8 Edited November 18, 2021 by Agriv8 Quote Link to comment Share on other sites More sharing options...
Bigbob Posted November 18, 2021 Author Report Share Posted November 18, 2021 Thanks i dont see a problem now the mod one was a nightmare but i got there they where just so slow should of been sorted in August and only correct now hopeful this one should change from sick pay in December to pension in January then just the goverment one in a few years LOL Quote Link to comment Share on other sites More sharing options...
henry d Posted November 20, 2021 Report Share Posted November 20, 2021 @Bigbob might be worth looking at your tax too, my pension is pretty good but my wife's is well under the threshold and I believe we can combine them to cut my tax Quote Link to comment Share on other sites More sharing options...
Bigbob Posted November 21, 2021 Author Report Share Posted November 21, 2021 Yes thanks for that i will be taxed after my married man allowance 12.5Kish ? so im looking at giving my wife one pension next year Quote Link to comment Share on other sites More sharing options...
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