small pension cash in

brewerdave

AnotherJoe wrote: »

.......... because people are often very casual with words.

If it was £15k a year that would be around £300k lump sum which in no ones estimate would be small !

But maybe I'm wrong, its been known. Lets wait for OP to clarify.

..for some who post on here, £15.5k pa would be a small pension!:rotfl:

slade1961

thank you for your advice

the £15500 is a total pension pot value a stakeholder plan , my idea is to take 25% and the rest in cash i under stand this part will be taxed at my personal rate . correct me if i am wrong please ,

15500- 25% = 3875

11625 - 20% tax = 2325

3875 + 9300 = 13175

would this be my final figure or any other charges?

thank you

xylophone

Have a look at this.

http://adviser.royallondon.com/pensions/technical-central/information-guidance/benefit-options/emergency-tax-and-lump-sum-withdrawals/