Benefits Of Receiving A County Pension In Dorset

County pensions offer many benefits for those who receive them, including a guaranteed income and health care coverage. Here are few benefits of a county pension: 

1. Dorset county annuity is a guaranteed income. Most counties provide a set amount of income each month regardless of whether the recipient collects benefits or not. This means that if you retire, you will always receive your full pension regardless of how much money you have saved over your lifetime. 

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2. County pensions offer health care coverage. Most counties provide health care coverage for retirees and their families, which can be extremely valuable in retirement. This coverage can include hospitalization, doctor visits, and prescription drugs. 

3. County pensions are tax-free. Unlike Social Security benefits, which are taxed when earned and when withdrawn, county pensions are exempt from income taxes when received. This can be a major advantage for retirees who have high taxable incomes but low Social Security benefits. 

4. County pensions are portable. If you move to another county or state, your county pension will go with you automatically assuming you meet the eligibility requirements. This is an important consideration for retirees who may want to move to a different area for retirement.

County pensions are an important part of your retirement planning, and knowing about them can help you make the right choices for yourself and your future.