Help Cashed In Pension missing £300K

dunstonh

Pension company definitely contacted me. I was unaware the policy still existed.

That bit is not unexpected.   It is the bit you said about asking you whether you wanted to cash it in.  That is highly unusual.

Gross payment 20/21 was £37159.51  which I paid approx £10800 Tax for it in that year.

That is too much tax unless it took you into the higher rate band.

It looks like HMRC think you are getting that payment every month rather than a one off.  However, why they have applied to this tax year and not mentioned 21/22 or 20/21 is strange.

Albermarle

That bit is not unexpected.   It is the bit you said about asking you whether you wanted to cash it in.  That is highly unusual.

Maybe the usual options were explained, of which one option would have been to take it all in one go. Then the  OP took that option and in their post have given the wrong impression that the person she talked to encouraged her to cash it in?