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Chronically ill? Over 50? Early pension
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p999j
Posts: 185 Forumite
Just found out I can access my pension early because I’m 52 and my health is unlikely to improve.
A bit scunnered that if I want to take more than 25% out, I need to pay huge amounts of tax, but still glad I can get some money out.:beer::j
A bit scunnered that if I want to take more than 25% out, I need to pay huge amounts of tax, but still glad I can get some money out.:beer::j
"To exercise power costs effort and demands courage." Oscar Wilde
"There is no road too long to the man who advances deliberately and without undue haste" Jean de La Bruyère
"Compassion will cure more sins than condemnation." Henry Ward Beecher
"There is no road too long to the man who advances deliberately and without undue haste" Jean de La Bruyère
"Compassion will cure more sins than condemnation." Henry Ward Beecher
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Comments
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You can take 25% tax free plus any other income e.g. pension would be tax free up to your tax allowance which for most of us is £11,850."A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
If you're claiming a means tested benefit then anything you take out from your pension could affect this.Just found out I can access my pension early because I’m 52 and my health is unlikely to improve.
A bit scunnered that if I want to take more than 25% out, I need to pay huge amounts of tax, but still glad I can get some money out.:beer::j0
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