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Pension questions
lifebegins
Posts: 136 Forumite
I'm slowly working through the maze of pensions planning but can't find the answer to this question at the moment- could anyone help please?
I understand that if you opt to take money from your pension at 55 e.g. 25% lump sum, you can then only put in £10,000 per year thereafter.
But if you have several pension pots is it possible to take a 25% lump sum from just one of them and keep contributing as normal (i.e. more than £10,000) to another untouched one? Or does the limit apply to all pots equally as soon as you touch just one of them.
I understand that if you opt to take money from your pension at 55 e.g. 25% lump sum, you can then only put in £10,000 per year thereafter.
But if you have several pension pots is it possible to take a 25% lump sum from just one of them and keep contributing as normal (i.e. more than £10,000) to another untouched one? Or does the limit apply to all pots equally as soon as you touch just one of them.
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MPAA only applies if you take 1p more than the 25% TFLS, so if you stick to that the amount you can contribute to pensions won't be impacted.0
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