Paying tax as a pensioner can be a little confusing, as you pay some taxes but not others, and can take your 25% tax-free chunk in multiple ways imogent_ explains how it works ⬇️
. For employees, it’s levied at 12 per cent of your weekly earnings between £242 and £967, and 2 per cent of your weekly earnings above this., whether that’s from your state pension, a private pension or a workplace pension.
If you get the state pension and withdraw an income from multiple pots, the total is added together to work out your income tax bill., you could get this tax-free as it falls within your £12,570 personal allowance. You still have £1,970 of income to take tax-free.
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