Wesleyan Pension Payout Help

Whisstler

Here is the calculator, except this forum wont let me post it



So Pensionwise > take whole pot



Please only give advice if you know what you're about



Whatever that link of yours is doesn't work


As I said, I confirmed my / those figures with an HMRC representative

dunstonh

You are not listening to the answers.

HMRC rules require the UFPLS on a first payment (or single payment if whole amount) to be taxed on month one basis. That means the taxation is almost certainly going to be wrong.

A decent calculator would tell you what the initial tax will be and what the final outcome will be once the tax has been reclaimed.

Dazed_and_confused

If you click Start Again the link works just fine.

You are getting confused between the tax which might be due for the tax year as a whole and the tax the pension company is obliged to deduct from the first payment they make.

HMRC no doubt told you what you wanted to hear, not what the pension company has to deduct.