Talk:Pension tax simplification
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Merge proposal - further merge ?
[edit ]I have just tagged Personal pension scheme and Self-invested personal pension as candidates for a possible merge. Does anyone think that this article Pension simplification should also be merged with the resulting article? DFH 19:21, 20 November 2006 (UTC) [reply ]
Tax free lump sum
[edit ]"In addition to the above changes, employees aged 50 or over will be able to withdraw 25% of their pension fund as a tax-free lump sum, whilst continuing to work. The age at which this claim can be made will increase to 55 in 2010/11. It will also be possible to withdraw another 25% tax-free lump sum upon retirement."
Is this correct? I thought only one tax free lump sum of 25% is available upon retirement. Coolcato 10:56, 29 May 2007 (UTC) [reply ]
- I've had a go at clarifing that section. --Cavrdg 18:48, 27 June 2007 (UTC) [reply ]
- You can only draw a tax free lump sum when commencing benefits. As soon as you take the lump sum the rest of the policy must be commenced as an annuity or similar product. —Preceding unsigned comment added by 80.5.5.44 (talk) 22:56, 18 January 2008 (UTC) [reply ]