We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
State pension and savings
furryfellow
Posts: 1 Newbie
At present I can take money from my isa savings account to help buy a car ( for example) and not pay any additional tax.
When I get my state pension would I still be able to take tax free money from my isa without it being classed as income.
When I get my state pension would I still be able to take tax free money from my isa without it being classed as income.
0
Comments
-
Yes, it will never be counted as income.0
-
ISA is a savings productI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
Yes.furryfellow said:At present I can take money from my isa savings account to help buy a car ( for example) and not pay any additional tax.
When I get my state pension would I still be able to take tax free money from my isa without it being classed as income.0 -
And providing you keep to the ISA rules any interest you earn from an ISA is exempt from tax.0
-
Yes, taking money out of an ISA is no different to taking it out of any other bank account.
Possibly you are confusing an ISA with a private pension - withdrawals from a private pension DO count as income (beyond the tax free 25%). This applies regardless of whether you are claiming your state pension or not - though you are more likely to actually pay tax on the withdrawals if most of your personal allowance is already taken up by the state pension.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards