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  • No! A pension is something that you received inthe private sector. You will be taxed at the end of the year in accordance with your other monies/earnings. There are situations when you make early withdraws or liquidate a "qualified" account where they will withold penalties and taxes.

    Please feel free to contact me with any questions.

    B. Inman

  • Login to rate this answer:   Answered on 9/10/2008
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.