Lower tax bills and additional social welfare benefits await those reaching retirement age
If “many years from now” has abruptly become imminent, how your finances are going to fare in retirement is probably on your mind. But while there may be disappointments on the pension front, the good news is that, once you pass the age of 65, you start paying less tax on your income, be it from a pension or otherwise, and this continues until the age of 70.
Yes, your income may dip substantially if you’re also retiring at this age, but at least you should stand to save on the tax front, while you will also be entitled to more social welfare benefits
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