My father recently turned 65.He is still working.
He will still be working on a year by year basis provided he passes a medical.
He was informed recently that he can collect a pension from the Bord of Works.
He worked there for about 9 years.
At first he was getting about 40euro per week on this pension.
However,now the pension is being taxed at 41 percent...so he is basically getting half ot it now.
should he be taxed on his pension?
What about if he stops the pension now and doesn't collect it till he retires from work?
Will he still be able to backdate the pension to when he finishes work?
Would he be taxed on it then?
He will still be working on a year by year basis provided he passes a medical.
He was informed recently that he can collect a pension from the Bord of Works.
He worked there for about 9 years.
At first he was getting about 40euro per week on this pension.
However,now the pension is being taxed at 41 percent...so he is basically getting half ot it now.
should he be taxed on his pension?
What about if he stops the pension now and doesn't collect it till he retires from work?
Will he still be able to backdate the pension to when he finishes work?
Would he be taxed on it then?