We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Advice on income tax on DB pension.

tiddles · 2020-02-10 21:38:04

Hi. I am slightly confused, and looking for advice please. My husband is due to take early retirement at the start of April. He is a member of a defined benefit/final salary pension scheme, and is considering not taking the tax-free lump sum, in order to receive a decent monthly income, hopefully for many years to come. Am…

Comments

Albermarle Posts: 31,454 Forumite

11 February 2020 at 7:28PM

You could maybe consider investing more in your SIPPs this financial year to make maximum use of the tax relief during your final years of employment. You could use savings or even temporarily borrow some money and pay it back when you get the PCLS.

1