Struggling to understand my very small pension pot

LHW99

So you have no income,  congratulations you can get the whole pension out tax free in one year, assuming it IS a DC pension, if it is it will be in a Fund or Funds that will need selling to cash.

I think the OP said they were not on benefits, not that they had no other income (don't think that question had been answered).

Annie3465

On God I don't know, I've looked through all the bumf, I thought it was called defined contribution benefit but I can't find anything. I'm so annoyed. I'll read it all again and get back to you all.

Annie3465

Found it on a letter. Pre retirement pack in relation to your 'defined contribution benefits'.

SVaz

Look,  do you get a statement each year telling you how your investments are doing along with the value of your pot?  

That’s all a DC pension is : a pot of investment funds.   

You instruct them to sell the funds,  you draw out the cash, with some or all of it being tax free depending on whether you have OTHER INCOME.  

You still haven’t given that info, or who your pension is with 

QrizB

Annie3465 said:

Found it on a letter. Pre retirement pack in relation to your 'defined contribution benefits'.

It's a Defined Contribution pension, then, which provides you with pension benefits. That explains the confusion.