Are you aware of the tax implications of withdrawing your full pension pot?
Would you like to receive a free no obligation telephone call about your options?
Not many people are aware that should they decide to withdraw their pension rights under the new flexibility rules anything above the 25% tax free lump sum will be taxed at their marginal rate of income tax and added to other earned income.
Therefore should you have other sources of income and a sizeable pension pot this may mean that you incur basic rate tax (20%) on a large proportion of your pension benefits with the possibility to that some may even be taxed at higher rate tax (40%) meaning that the actual amount you receive will be much lower than expected.
Contact us today to speak with one of our advisers who will be able to assist you on your pension options and answer any queries you may have.