Actual loss from pay

Noobie2011

MallyGirl wrote: »

yes - you can each drawdown £11,850 tax free, plus 25% tax free as pension commencement lump sum (PCLS) or as more drawdown with each installment.

Some company pensions don't allow flexi drawdown but they will contact you something like a year before retirement age giving you options. One option would be to transfer somewhere that does offer flexible drawdown. I am talking about defined contribution pensions here - not DB / final salary ones. Transferring those is a whole different kettle of fish.
Some schemes allow you to partially transfer out to a personal pension/SIPP along the way.

Thanks, is all making much more sense now so going to factor this in too and hopefully find a good percentage range to pay into my wofe pension which makes the most of the early tax and NI savings but does not penalise us when come to start using