Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
culcha:"In planning for retirement I have been counting on (estimated) social security payments and (estimated) pension payments, and just adding the two of them together, thinking that it would all be income. But just recently I seem to to have heard or read somewhere that the SS payment is REDUCED in cases in which a pension is received. I already figured that the pension amount would make more of the SS amount taxable, but I never thought the SS payments would be reduced. "

As long as your pension is from a private employer or state .....NO....

There are some deals like Veterans benefits/pensions or other government agencies where you didn't contribute the full amount to SS....or if your employer was exempt from SS (like the military and their pension system).....


If you paid into SS...you get your SS.....based upon the number of years and amount you made each year...up to 35 years.....


t.
Print the post  

Announcements

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement