Under the current rules you can usually take the lower of up to 25% of the total value of your pension plan or £268,275 as a tax-free lump sum. Some people may be eligible to receive a higher amount of tax free cash.
Will I have to pay tax on my pension income when I retire?
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As with all investing, your money is at risk. The value of your investments can go down as well as up and you could get back less than you put in. Read more information about risk here. The tax treatment of your investment will depend on your individual circumstances and may change in the future. You should seek financial advice if you are unsure about investing.
Investment Champion is a trading name of Investment Champion Online Limited, registered in England and Wales, Company No. 08272073, registered office: 2 The Bourse, Leeds, West Yorkshire, LS1 5DE, and is an Appointed Representative of The Private Office Limited which is authorised and regulated by the Financial Conduct Authority FRN: 789482. Dealing and custody services are provided by Hubwise Securities Limited which is authorised and regulated by the Financial Conduct Authority FRN: 502619.
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