Pension income
Any pension or annuity income that you receive is taxable when you're entitled to it.
Jersey pension income
Jersey Social Security pension and survivor’s pension
This pension is a weekly amount that arises every Thursday and paid four-weekly. Your total State Pension entitlement won't add up to the same amount as the monthly payments paid into your bank account during the year.
The annual pension statement you receive from the Social Security Department will provide you with your pension entitlement so you can correctly declare this income. This is sent out during January.
Any other Jersey pension income or annuity
If you are in receipt of any other pension income that is from Jersey (pension income that you get because you worked in Jersey) declare it in this section. Examples include:
- occupational (employer) pension schemes
- annuities from a pension plan
- retirement trust schemes
If you have had any Jersey tax deducted at source from this income, complete the supplementary pension page and include a copy of the statement from your pension provider showing the amount of tax deducted with your return.
Pension income with tax deducted at source supplementary page
Small fund commutations from approved Jersey schemes
If you’ve taken a commutation of your fund under the ‘small pot’ rules, the amount is taxable and must be declared in this section.
Withdrawals from an approved drawdown contracts and approved trusts
Sums paid to you from an approved drawdown contract or an approved trust are taxable and must be declared in this section.
The amounts will have Jersey tax deducted at source, therefore complete the supplementary pension page and include a copy of the statement from the pension provider with your tax return showing the amount of Jersey tax deducted.
Pension income with tax deducted at source supplementary page
Non-Jersey pension income
UK or overseas state pensions
Declare any state pension income that you are entitled to from outside Jersey. If the income arises weekly you need to calculate the number of weeks and take into account any changes in your pension rate during the calendar year.
Any other non-Jersey pension income or annuity
If you are in receipt of any other pension income or annuity, declare it in this section. Include the name of the pension scheme and enter the amount of pension that arises in the year.
If you've paid foreign tax on the pension complete the supplementary pension page and send in a copy of the tax calculation with your tax return.
Tick the box at the end of the form if you're claiming relief for the foreign tax paid.
Pension income with tax deducted at source supplementary page
Lump sums from overseas pension schemes
Any lump sum you receive from an overseas pension scheme is taxable in Jersey and must be declared in this section.
Declare the whole amount you received, but you may be entitled to the same tax free cash (of up to 30%) as if the payment was from a Jersey pension scheme.
Non-taxable pension income
The following are not taxable so don’t include them on your return:
- old age Christmas bonus paid by state pension schemes
- wounds and disability pensions in respect of services in the armed forces
- war widow’s pension
Taxable social security benefits
If you’re in receipt of any taxable benefits declare them.
Benefits that are currently taxable are:
- home carer’s allowance (the amount paid by Social Security to look after a person who requires a very high level of personal care)
- insolvency benefit (only the amount paid by Social Security that relates to unpaid wages, holiday pay and pay in lieu of notice)
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