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  • FIRST POST
    • loopylobbo
    • By loopylobbo 16th Nov 19, 9:45 PM
    • 1Posts
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    loopylobbo
    Pension pot access at 55
    • #1
    • 16th Nov 19, 9:45 PM
    Pension pot access at 55 16th Nov 19 at 9:45 PM
    I am 56 years old and need some money to pay some debts. I would like to take a pot of 25% from my personal pension which is about 15k but I'm worried about whether I would then need to pay back the Tax relief which the government has already given me.
    I don't have any other real income at the moment as my small self employed business is really struggling.
    I have normally put into my personal pension was 240 a month which the government topped up to 300 with tax relief.
    My question is if I take out 25% about 15k from my pension in a lump sum, will I need to pay the government back the tax relief or will that still be mine to do as I please?
    Thanks in advance.
Page 1
    • Dazed and confused
    • By Dazed and confused 17th Nov 19, 9:47 PM
    • 5,636 Posts
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    Dazed and confused
    • #2
    • 17th Nov 19, 9:47 PM
    • #2
    • 17th Nov 19, 9:47 PM
    In the circumstances you describe you wouldn't have to pay back any tax relief.
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