any other questions????????????
YES >>>>>>>>> read on:-
Gross pay is Taxed first on your pay slip. ( So everything after this point is taxed)
Nat Ins is paid second
Other deductions then follow :- ie.,
Voluntary Pension scheme, Union and others.
<<<<<<<<< OK so far? >>>>>>>>>
Upon retirement you cease to pay Nat Ins and any others you have been paying, however you continue to pax Tax on your Private Pension as unearned income.
It has has already been Taxed in your Gross Pay while in employment. (remember the first line deduction on your pay slip)
I believe it is classed as tax on "Unearned Income".
It' a Tax on age and nothing more.
phredd
Medic
your pension contribution is paid into a fund, which in turn ( theoretically) ismanaged by a fund manager to grow to be able to pay you an income when you retire, it is the growth of the fund that is your unearned income so you are not being taxed twice, nor are you being taxed for being an old fart.
a similar sort of principle to that of the tax deducted at source on bank interest your money earns in your bank account.
emoticon at the bottom, I couldn't find the term of phrase I wanted to use to highlight this persons misconception of the word value :rude: 
:lol: :lol:
ops: Ireally should learn to read my own name :lol: :lol: 
: Not swinging then :?: 
