Pension

Does a Lifetime Pension count as taxable income?

When your Lifetime Pension is disbursed, personal income tax is deducted from the payment. If your Lifetime Pension combined with your state old-age pension does not exceed the non-taxable minimums set by the state, then every year, by submitting a personal annual income declaration to the State Revenue Service, you can receive a tax refund from the state. 

Are you satisfied with the answer?