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30th August 2018 When Will You Draw Down Your UK Pension Retirement Pot?

In the UK you can withdraw your entire pension savings as a single lump sum. This could be very tax inefficient for you depending on you personal retirement circumstances in UK.

Over 55s in UK with defined contribution pension savings pots can now withdraw all of their pension pot but just because you can does not mean you should.

The first 25 percent of money taken from UK pension pot could be tax free but the remainder could be subject to UK tax. Many want to take out more than 25 percent not to buy a Ferrari but to boost their retirement lifestyle in UK.

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