16
Mar
2016
A question about : Pension quick question
I have 3 pensions
25000 pre 2006
26000
10000
Can I take lump sums from all of these or only one as I want to help with a deposit for my son .
Any advice would be grateful.
Best answers:
- Do you mention pre 2006 because of what is discussed here https://www.telegraph.co.uk/finance/p...-tax-free.html
- I did read that but still not understand if that makes any difference. Perhaps someone out there could break it down and does it mean I can take all the money out of the pre 2006 one. Save for pensions all my life but cannot get my head round them
- Does the pre 2006 have the protection discussed?
It was a pension arising from previous employment? It is not a deferred DB pension?
The others are just standard DC pensions?
Would you benefit from advice from an IFA? In a previous post you mention a lump sum from a property sale.
https://www.unbiased.co.uk/find-an-a...FcPJtAodKRcA4g - I think you can take 25% tax free from each as they become payable. You can't take preferentially from one pension and less than another. I don't think.
- I think the OP wants to know whether her pre 2006 pension has a protected tax free amount greater than 25%.See link in my previous post.
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