Tax Rate

Chalky_Lady

My personal pension - which was an RAF pension I moved 30 yrs ago into what was the Britannic Assurance for a better forecast -  matures shortly  I plan to take the whole Lump Sum  - I understand 25% is Tax Free - as I’m still working (20% bracket earning under 30,000 ) will the remaining 75% be subject to 20% Tax? appreciate clarification Thank you 

molerat

It is not simply taxable at your current rate, It will be added to your income and tax due will be calculated accordingly.  It will though, depending on the exact circumstances, be taxed differently by the provider when withdrawn and you may owe tax or be due a refund.

dunstonh

will the remaining 75% be subject to 20% Tax?

It will be added to your income and you will pay income tax at the appropriate band.   You don't mention amounts but its likely to take you into higher rate.  Or even potentially additional rate and wipe out your personal allowance.  Without knowing the figures, we cannot say.