Taxation and Occupational or Individual Pensions

If you are a member of an occupational, stakeholder or personal pension scheme, any income you receive will already have the tax taken off via the Pay As You Earn (PAYE) system. At the end of each year, you will receive a P60 that contains details of the amount of pension received, including the amount of tax taken.

In case you retire abroad, you will still probably have to pay UK tax on all your pensions, unless the country you are living in has a 'double taxation agreement' that covers pensions, which means you would be required to pay tax in that county instead.