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lump sum payment
harrywalshx
Posts: 1 Newbie
I have a small pension and due to financial hardship i applied for a 100% lump sum payment from my pension provider, they have said I can take a lower lump sum and a small monthly payment, but I cannot taske the 100% lump sum until I am 60 which will be next August. can anyone advise
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Comments
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If your total pensions (excluding state)are worth under £17,500 and you are over 60, you can take the pensions in cash.The first 25% is tax free.
Under 60, you can only take the 25% in cash. So looks like you'll have to wait till next year.Trying to keep it simple...
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