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Pension Contributions after drawdown
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Bazza224
Posts: 6 Forumite

I have a defined contribution company pension with my current employer and I also have a defined contribution pension from previous employer.
My intention is to work until my state retirement age and to continue to contribute to my current employers company pension scheme.
Under drawdown rules would I be able to take a one off 25% tax free lump from my previous employer pension at age 55 but continue to work and pay into my current employer pension scheme without losing any tax benefits normally associated with pension contributions?
I wasn’t sure and any feedback would be gladly appreciated
My intention is to work until my state retirement age and to continue to contribute to my current employers company pension scheme.
Under drawdown rules would I be able to take a one off 25% tax free lump from my previous employer pension at age 55 but continue to work and pay into my current employer pension scheme without losing any tax benefits normally associated with pension contributions?
I wasn’t sure and any feedback would be gladly appreciated
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Comments
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Yes you can. The only restriction would be if you took taxable cash then you would be restricted to contributing £10K pa into a DC scheme.
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As long as you are 55 in the next couple of years, as the age limit is going up to 57.0
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That’s great, thankyou0
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