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Taking Pension Pot
Jioscar
Posts: 3 Newbie
Hi all I have two private pensions which I delayed from September my 65th birthday is it possible to take one in cash and delay the other one until next April many thanks for any replies
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Comments
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Separate pots can be taken at separate times/years.0
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Thankyou atush0
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just remember only 25% is tax free. The remainder will be taxed. Dont take it all if it pushes you into a higher tax bracket?
If you have no income, your personal allowance will help you take the 75% tax free too?0 -
A good ruse, if you are in good health, is to defer your state pension to leave more room in your tax brackets for your private pension withdrawals. Then when you restart your state pension you'll have earned an extra pension of 10.4% for each year deferred.Free the dunston one next time too.0
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