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Pension question

hayleydaley · 2014-12-20 09:28:35

i have pensions of £25000 £10000 £5000 With the new changes coming in next year to pension drawdown. Just wondering whether to draw down on the smaller pension so that it will come in this years tax drawdown . Then I can drawdown on another one next year. As I understand it is only one drawdown per tax year. Thanks Merry…

Comments

atush Posts: 18,731 Forumite

21 December 2014 at 5:50PM

you can drow down up to your PA each year w/o paying tax, and you can take the first 10K overall as a tax free lump sum.

But the money wont last long this way. How many ears til your State pension starts? Could you word part time to make the money last longer?

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