How much tax will you pay on your pension?
You can now take up to 100% of your pension fund as a cash payment. Any amount in excess of 25% of your fund will be subject to income tax at your marginal rate. This can mean you will have to pay higher rate tax, at 40% or possibly 45%, on some of the cash you take.
You can use our Tax Calculator to see how much tax you will pay if you withdraw your whole fund in one go. Click on the FREE Report and Guidance button to get a report with useful guidance and advice on how to minimise you tax liability.
We can help you minimise the amount of tax you pay, so why not contact us today and find out how we can save you paying too much tax on your pension.
This information is provided as information only and is intended as a guide and is based on our understanding of the current tax rules. We will provide you with more specific advice when we send you a detailed report and recommendations.