What is the Social Security 1st year rule?
What is the Social Security 1st year rule? That's why there is a special rule that applies to earnings for 1 year, usually the first year of retirement. Under this rule, you can get a full Social Security check for any whole month you're retired, regardless of your yearly earnings.
How much can a retired person earn without paying taxes UK?
Your annual allowance (in the tax year 2023/24) is £12,570, and the maximum new state pension you can receive is around £10,600 (£203.85 per week). So, if your only income is from the state pension, you won't pay any income tax.