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Partial Retirement - Should I take a reduced pension

rosieusa_2 · 2022-07-30 09:15:37

Hi, I'm just about to take partial retirement from the Civil Service with a revised salary of £26K and a pension of £22K, I'm very fortunate that I don't need the full £21K just now as I have £18K from property investments so am in the higher tax bracket. I was wondering whether I should (a) take the full £22K and my lump…

Comments

Andy_L Posts: 13,164 Forumite

31 July 2022 at 5:28PM

Dazed_and_C0nfused said:

I think @Andy_L may have thought you were intending on giving up some of pension for additional lump sum.

The normal lump sum (and any additional lump sum) is tax free but taking additional lump sum from a civil service pension is usually one of the worst financial choices you can make (there are exceptions to the rule).

I did
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