How much am i allowed to earn at a part time job at the age of 77?

Question

How much am i allowed to earn at a part time job at the age of 77?

Answer 1

The government has a very good webpage about working after your retirement. It also gives information about the effects of your earnings on your pension(s). Please have a read through, I hope that helps. Sorry I cannot give you an amount, it all depends on previous earnings/built up pension(s) etcetera. Good luck and well done for choosing to work at such an advanced age; I really respect that.

Abstract from the website:

Income you receive from part-time work in retirement counts as 'taxable income' – along with income from your State Pension, personal or company (occupational) pensions and from certain taxable benefits.

If your overall taxable income is more than your tax-free allowances (income you can earn without paying tax) you'll be taxed at the usual Income Tax rates on the difference. However, your tax-free personal allowance is more generous once you reach retirement age, which means you can earn more before having to pay tax. You may also qualify for other allowances that can reduce your tax bill.

If you're already getting the State Pension you can cancel your claim if you get the chance to do some work that would pay enough for your needs. Your State Pension will stop until you choose to claim it again. Then, depending on how long you stopped claiming, you can take either the lump sum or increased pension. Note that you can only cancel once – when your State Pension restarts you won't be able to cancel again.