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DB tax free lump sum
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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.Albermarle said:
DC and DB schemes are totally different . In general DB schemes are much better to have .rjb101 said:
Thank you.Albermarle said:
Yes it is lost .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.
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.1
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