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Is transferring of RA funds between RA's considered non-pensionable income

Posted 19 January 2016

Mike says:
19 January 2016 at 13:01

I am considering changing the retirement annuity I currently contribute towards. If I ask the funds to be transferred from one to the other, would this amount be considered as non-pensionable income when I file my tax return. If so, am I therefore liable to pay tax on this amount even though it is being transferred from one RA to another directly without coming to my bank account directly.

TaxTim TaxTim says:
19 January 2016 at 22:43

There should be no tax implications if you simply transfer from one RA to another.

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