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Pension Question
GJB67
Posts: 1 Newbie
I have received compensation after 8 years of waiting from FSCS as I had lost all my personal pension money in a bad investment advised by a Independant Financial Advisor (who was struck off for this). Is my compensation taxable? Can I use this compensation to help pay off my mortgage / credit cards? In 5 months I will be 55.
0
Comments
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With most pensions you can take 25% Tax free.
What you do with that pension lump sum is up to you ?
Will the Compensation be taxable I have no idea.
Why not speak to the FSCS1
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