Sentences with phrase «pension payments generally»
Unless they come from certain public pension funds, pension payments generally are taxable at the time that they're issued.
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The chances that you'll be able to do better than the monthly payments offered by your employer are low — a 2015 General Accounting Office on pensions and lump sums found that the payouts on company pensions are generally much more generous than those offered by private insurers — but it doesn't hurt to check.
«Commutation» is a term which generally means the process of converting a pension or annuity into a lump sum payment.
If you're paying super benefits from a TRIS to a member who is aged 60 or over, there is generally no need to withhold tax as the pension payments will generally be received tax - free.
The first would be to leave the pension intact and draw a monthly payment at some point in the future (generally after age 55).
However, the regular nature of the payment means that people generally opt to use annuities as pensions when they have stopped working and there is no regular salary income.