Monday, July 18, 2011

What percentage of the capital in a pension can I take as a tax-free lump sum on retirement?

If I invest in a private pension, I believe I can have it mature when I am 55. Of that I believe I can also take a tax free lump sum, the remainder needs to be invested as an annuity. How does one work out the percentage of the pension value I can cash in at 55?

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