Withdrawing tax-free with multiple pensions

kajman

My pension is split over several providers, due to job changes etc. I know I can withdraw 25% of my pension pot tax-free. If I wanted to withdraw the maximum tax-free amount can I just take it all from one provider, and close that account. Or does it have to be 25% from each scheme?

QrizB

25% from each.

Or you could combine your DC pensions into one, then take 25% from the combined fund.

Linton

I believe that in theory the law permits you to  take the 25% of your total pension assets from one pension.  However no pension supplier/platform supports this - perhaps it would be too difficult to police.

So as QrizB says.

older_and_no_wiser

Just combine them into a single pot/platform. It will make the process much easier to manage going forward.

dunstonh

Linton said:

I believe that in theory the law permits you to  take the 25% of your total pension assets from one pension.  However no pension supplier/platform supports this - perhaps it would be too difficult to police.

So as QrizB says.

You pretty much nailed it on the head.  The cost of compliance and managing that would be too great.  This is why you only tend to see it on in-house AVCs or where an employer scheme has had multiple segments/schemes over the years as the administrator controls all segments.