Upon retirement, I received a lump sum and commenced to receive a monthly pension under a recognized occupational retirement scheme ("ROR scheme"). Should I report in my tax return the lump sum and monthly pension received?

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Upon retirement, I received a lump sum and commenced to receive a monthly pension under a recognized occupational retirement scheme ("ROR scheme"). Should I report in my tax return the lump sum and monthly pension received?

2011-10-31 01:26 PM

Levis Kong

1 Answer

Your Answer

Any sum received by way of commutation of pension under a ROR scheme upon retirement is not taxable and you are not required to report the sum in your tax return. However, the exemption does not apply to monthly pension which is fully taxable and should be reported in your tax return.

2011-10-31 02:16 PM

Jason Ng

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