Taking 25% tax free cash

You can take 25% of your pensions savings as tax-free cash as soon as you reach the scheme’s retirement age. You are free to use this money any way you like.

The 2015 pension freedoms allow you to take an additional amount or a series of additional amounts as cash but these withdrawals will be subject to income tax at your marginal rate.

Read more about taking lump sums from your pension pot.

You can also withdraw the full amount as cash. Again, tax will be payable.

 

Find out more…