Lump sum pension

AJmufc

Retirement is 1st January 2026
Should I take a tax free lump sum out of my private pension please 
Thamks

DE_612183

What type of pension is it?
Who provides it?

Need more info, but rule of thumb is to take it out and then put into ISA's IF you have to take it out.

Are you being told you HAVE to take it out?

QrizB

AJmufc said:

Retirement is 1st January 2026
Should I take a tax free lump sum out of my private pension please 

Honestly, it's impossible to say without a lot more info.

How old are you? Single, or with a spouse?

What level of income do you need in retirement?

What pensions do you have? Any other retirement savings?

Have you checked state pension forecast?

https://www.gov.uk/check-state-pension

Marcon

AJmufc said:

Retirement is 1st January 2026
Should I take a tax free lump sum out of my private pension please 
Thamks

If it'll help you meet your objectives and it is financially advantageous to do so, yes. Otherwise no.

SVaz

Do you need the money for something?
Do you have other income?
Are you going to be taking an income from the pension right away? 
You might be better taking chunks, of which 25% is tax free and 75% is taxable . 

You have given literally no pertinent information 🤷‍♀️

ali_bear

You should take it out in cash and hand it all over to me. Brown paper bag round the back of Morrisons. 

Mark_d

AJmufc said:

Retirement is 1st January 2026
Should I take a tax free lump sum out of my private pension please 
Thamks

Since you're asking the question, I presume you don't have the need for a large amount of cash in the foreseeable future.  Therefore you're likely better off not taking the tax free lump sum and instead having a bigger pension.