According to him, it is important to “Note that the percent a retiree can withdraw as lump sum is not automatic, but dependant on Retirement Saving Account, RSA, balance and variables supplied.

Julia, an actor and former City worker, felt she was left with no choice but to withdraw £138,000 from two of her personal pensions. She had never previously taken a tax-free lump sum from her ...

There was a surge in savers requesting to withdraw their pension tax-free lump sum ahead of Rachel Reeves’s first Budget on October 30 amid fears that the Labour Chancellor could slash back the ...

There was a surge in savers requesting to withdraw their pension tax-free lump sum ahead of Rachel Reeves’s first Budget on October 30 amid fears that the Labour Chancellor could slash back the ...

Julia, an actor and former City worker, felt she was left with no choice but to withdraw £138,000 from two of her personal pensions. She had never previously taken a tax-free lump sum from her ...

What usually happens is you first take your 25% tax-free cash as a lump sum. You can then decide how much to take out of your pension and when. You might decide to take a regular monthly income or ...

If you are over 60 and have retired and are in a taxed fund (which most superannuation funds are) then you will pay no tax on a lump sum withdrawal. Tax on income earned in account-based pensions ...

The Institute for Fiscal Studies argued for such a tax-free lump sum to ... tax due on pension savings. This will avoid beneficiaries having to pay income tax on pension withdrawals just to ...

Life insurance companies originally dominated the personal pension ... free lump sum from the accrued pension fund at retirement, individuals subsequently pay income tax on further withdrawals ...

SERPs are tax-deferred, meaning you won’t pay taxes on the funds until you withdraw them in retirement. The payout you select will affect how you are taxed. Choosing a lump sum would require you ...