As you get older, you often have to file a tax return. How much tax you have to pay depends on allowances and benefits. New pensioners benefit from a change in the law.
Once you’ve given up your job, is the subject of taxes a thing of the past? Unfortunately not. Even if you’re no longer working, you usually still have to deal with the tax office. As with all income, taxes are also deducted from your pension. A tax return is often a must, especially for younger pensioners. There are a number of things to consider, especially if retirees receive more than one pension. In addition to the statutory pension, many people have income from one or more occupational pension plans or from private pension insurance – and all of these benefits are taxed differently.
Source: Stern
