You receive government tax relief when you pay into your pension. For example, if you pay in £80, HMRC will add an extra £20. When you decide to withdraw from your pension, the first 25% is generally tax-free. The rest is taxed as income. This depends on the retirement benefits...
You can take up to 25% of your savings as tax-free cash before using some, or all, of your remaining pension savings to enter into a flexible income arrangement. This is known as income drawdown. This allows you to take the money from your pension savings as taxable income, leaving it...
A Personal Pension is a flexible, tax efficient way of saving for your long-term future. Find out more about private pension saving today.
Free pension transfers Enjoy the convenience of just one home for all your pension investments, one platform fee, and one go-to for all your questions. Tax-free withdrawals at 55 Withdraw up to 25% of your pension savings as a tax-free lump sum – free of charge – when you turn 55 ...
You can typically withdraw up to 25% of your pension pot tax-free, whilst leaving the rest invested. This means your pension can continue to grow over time. As with all investments, there is a chance that your pension could fall in value.Moneyfarm’s drawdown service allows you to access...
Build a more structured plan for each stage of your retirement Get Retirement Advice Cashing in your pension pot Take up to 25% from your pension pot tax-free. The rest is counted as income in the year you take it, so you need to be careful, otherwise you could end up paying more in...
Our TPI Pension has unlimited withdrawals, free drawdowns, and no penalties for withdrawals. We think the best things in life are free. Find out more here.
Withdraw 25% tax-free from age 55 onwards Take the rest as income in retirement, taxed at your personal rate What is a Personal Pension? A Personal Pension is a long-term investment that you build-up during working life so that your retirement is not spent worrying about money. With thi...
We also assume that your investments will continue to grow at a rate of 5% after you retire, that the rate of inflation is 2% every year and that you won’t be taking a 25% tax-free cash lump sum when you’re ready to start withdrawing from your pension. ...
Find out if the flexibility of drawdown is right for you If your pension fund is over £50,000 you could benefit from retirement planning advice You could release 25% of your pension pot tax-freeDiscover your drawdown options Date of birth (55+ only) What is the total of all your ...