Paying in restrictions after taking the PCLS

smyla_2

Hi There,
I'm in the fortunate position of having an entitlement to a bit more than the usual 25% Tax free Pension Commencement Lump Sum. Assuming I take all of this, but don't take any drawdown income, can I still pay in £40k annually (subject to income, obviously), or have I triggered the £10k restriction?
Many thanks to anyone who knows the answer.....
Smyla

xylophone

https://www.gov.uk/government/publications/taxation-of-pensions-bill-briefing-note/taxation-of-pensions-bill-briefing-note

might be worth a look.

smyla_2

Thank You, Xylophone, I've had a look and it suggests that as long as you don't take more than your tax free allowance, you shouldn't trigger the restriction. As it doesn't specifically refer to a figure of 25%, I'll assume I'm OK taking my larger allowance...
Unless anyone else knows differently??