Many pensioners also pay income tax because they receive extra money on top of their state pension, such as from part-time work or a private pension. But, younger pensioners who only receive the ...

If you only receive state pension income, or have very little additional income, you may not pay any tax on your state pension if your annual income is less than the £12,570 personal allowance.

Naturally, a more comfortable retirement lifestyle necessitates a higher annual income.” As a starting point, some experts suggest the 70pc rule, where you aim for 70pc of your current salary as ...

What should I do in the 5 years before retirement? If you haven’t been tracking all this already, this is the time to calculate how much money you will need and how much income you can expect to ...

Social Security might not pay as much money as you think, so it's a good idea to start planning ahead for retirement.