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If I were retired and drawing my pension, can I earn an income from doing some sports coaching too?

Charlotte | Devon| 07/11/2017 | 0

  • Pension

Charlotte's question in full

If I were retired and drawing my pension, can I earn an income from doing some sports coaching too? If so, how much can I earn without it affecting my pension? Thanks

Boring Money's Response

There is nothing to stop you both drawing a pension and earning income at the same time. Your pension is treated for tax purposes as if it is earned income. This means after you have used your personal allowance of £11,500, any pension income will be subject to income tax. You can draw on as many pensions and have as many jobs as you like all at the same time, provided you pay any income tax due.

 

 

Just be aware...

We are not regulated to give personal financial advice - This isn’t full-fat regulated financial advice. Boring Money is a publisher and not regulated by the FCA. 

This means we can't help with specific personal circumstances or recommend specific investment products. It also basically means that if we say something daft, you have no recourse to come back and complain.

We’re only allowed to give you a steer or share an opinion or tell you the facts - That said, we promise that our answer to you is an independent unbiased perspective with no commercial gain to make. If you need regulated financial advice, you can find a good adviser via sites such as Unbiased & Vouchedfor.

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