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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: 28,587 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.

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