Everybody should aim to build up the maximum State Pension, but they shouldn’t stop there ...The new State Pension is currently worth a maximum of £12,547 ... After deducting the State Pension, it leaves you £19,153 to make up under your own steam.
New HMRC guidance can help help people understand how tax works in retirement, including checks on pensions, tax codes, National Insurance records and unexpected tax bills ... .
Following the 4% withdrawal rule, that unlocks a £44,348.95 annual passive income, or £56,896.55 when including the State Pension ... The State Pension could change in the future, and not necessarily for the better ... The post Forget the State Pension.