Official response: Retirement pensions are exempt from personal income tax.

On the evening of June 24th, the Beijing Municipal Taxation Bureau's 12366 tax payment service hotline responded to taxpayers' inquiries: monthly basic pensions received after retirement do not need to pay personal income tax. Unlike basic pensions, individual pensions are supplementary pension insurance supported by government policies, volunteered by individuals, and operated in a market-oriented manner. The annual deposit limit is 12,000 yuan, and tax incentives can be enjoyed as prescribed: at the time of deposit, deductions can be made from income such as wages, and personal income tax does not need to be paid; at the time of withdrawal, only a 3% tax rate at the lowest bracket needs to be paid.