DB tax free lump sum

rjb101

Albermarle said:

rjb101 said:

Albermarle said:

rjb101 said:

This I know. What I don't know is is the tax benefit lost if I don't take the initial lump sum.  

Yes it is lost .

Thank you. 
I asked because that isn't the case with the DC SIPP I have. I take money out and the first 25% is tax free. The remaining 75% is then taxable income. This is because I didn't take the lump sum.
I can carry on musing now.

DC and DB schemes are totally different . In general DB schemes are much better to have .

Yep, I'm very fortunate to have it. Even so it's nice to understand more about my options. I probably wont take the lump sum, but at least I know there's a tax hit.