Student loan repayments and pension income
Discussion
I have a plan 2 student loan from a diploma course that I did about 7 years ago.
I've never had to make any repayments, as my self-employment income was below the threshold.
I now get my state pension (£202 a week), company DB pensions (£12k a year), and I plan to continue with self-employment but less hours (profit about £12k a year).
Total income will be about £32k a year, so above the £27,295 plan threshold.
Question is - does the pension income count towards the threshold, or just the self-employment income?
Can't find the answer on the .gov website, but it does say that employed people who have 2 jobs totalling over the threshold will only make repayments if one or both jobs individually exceed the threshold. Possible to earn £54.5k from 2 jobs, and not make repayments.
For the self-employed, it just says it will be calculated when you submit your self assessment.
I've never had to make any repayments, as my self-employment income was below the threshold.
I now get my state pension (£202 a week), company DB pensions (£12k a year), and I plan to continue with self-employment but less hours (profit about £12k a year).
Total income will be about £32k a year, so above the £27,295 plan threshold.
Question is - does the pension income count towards the threshold, or just the self-employment income?
Can't find the answer on the .gov website, but it does say that employed people who have 2 jobs totalling over the threshold will only make repayments if one or both jobs individually exceed the threshold. Possible to earn £54.5k from 2 jobs, and not make repayments.
For the self-employed, it just says it will be calculated when you submit your self assessment.
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