Advice please on pension value

zogg

Hi all,

Sorry if this sounds a bit daft !

Is "Current fund value" the amount I could draw down in one lump sum ?

For instance....if current value is £10k...can I drawdown £10k ?

Thanks

mania112

you need to locate the 'transfer value' as this could be different from the fund value (although more often than not it's the same).

If you're 55 or over you can withdraw benefits from your pension - up to 100%.

The first 25% will be tax free, the remainder taxed as earned income (just like wages from a job)