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Posted Tue, 09 Nov 2021 12:16:59 GMT by Would-be retiree
I started a new job in May, and enrolled in the pension scheme. I may end up retiring soon though. If I retire with less than two years paying into the pension fund, my contributions will be refunded and my pension cancelled. Will I have to treat the refunded pension as income for the tax year when I retire, or will it be retroactively added into the tax year when each contribution was made (and taxed accordingly)? Thanks, Archie
Posted Wed, 10 Nov 2021 15:03:44 GMT by HMRC Admin 10

It will be treated as taxable income for the tax year you receive the payment.



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