Pension pot access at 55

loopylobbo

I am 56 years old and need some money to pay some debts. I would like to take a pot of 25% from my personal pension which is about 15k but I'm worried about whether I would then need to pay back the Tax relief which the government has already given me.
I don't have any other real income at the moment as my small self employed business is really struggling.
I have normally put into my personal pension was £240 a month which the government topped up to £300 with tax relief.
My question is if I take out 25% about 15k from my pension in a lump sum, will I need to pay the government back the tax relief or will that still be mine to do as I please?
Thanks in advance.

Dazed_and_confused

In the circumstances you describe you wouldn't have to pay back any tax relief.

Indout96

The 25% will be tax free, anything over that will be taxed at your usual rate. just be aware that whilst you want to pay back debt now you need money to live on when you retire. If you start a draw down you can take the 25% then leave the balance still invested if you do not need to take an income but if you go for an endowment your yearly payment will be very low starting at 56 with a pot go £45k after the 25% has been taken