Pension quick question

hayleydaley

I have 3 pensions
25000 pre 2006

26000

10000
Can I take lump sums from all of these or only one as I want to help with a deposit for my son .
Any advice would be grateful.

xylophone

Do you mention pre 2006 because of what is discussed here http://www.telegraph.co.uk/finance/personalfinance/pensions/11138058/25pc-lump-sum-Some-can-get-100pc-of-a-company-pension-tax-free.html

hayleydaley

I did read that but still not understand if that makes any difference. Perhaps someone out there could break it down and does it mean I can take all the money out of the pre 2006 one. Save for pensions all my life but cannot get my head round them

xylophone

Does the pre 2006 have the protection discussed?

It was a pension arising from previous employment? It is not a deferred DB pension?

The others are just standard DC pensions?

Would you benefit from advice from an IFA? In a previous post you mention a lump sum from a property sale.

https://www.unbiased.co.uk/find-an-adviser?gclid=CMjMofDZ-MMCFcPJtAodKRcA4g

quotememiserable

I think you can take 25% tax free from each as they become payable. You can't take preferentially from one pension and less than another. I don't think.

xylophone

I think the OP wants to know whether her pre 2006 pension has a protected tax free amount greater than 25%.See link in my previous post.