How - and when - should you take tax-free cash from your pension?

Comments · 211

• AF

  @aficio698 · 5 months ago

  Personally I was looking to retire and focus on living. Not spending time managing my pension fund and the exposure to market fluctuations. Granted I may well have generated more income but it was enough for my lifestyle. <br>Took the 25% tax free, paid the mortgage off, 15 years ago. Took the plunge when the &nbsp;Bond Markets rose and purchased an annuity (favourable rates)to cover life’s expenses and more. <br>As I have no family there is no point being the richest person in the cemetery. <br>I have no intention of leaving anything taxable so it’s spend baby spend.

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• SU

  @supertiger2898 · 3 months ago

  I&apos;m 62 &nbsp; &nbsp;going to take it NOW before the government takes it

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• JO

  @JonSmith-uu7go · 5 months ago

  It’s disgraceful that our pensions have become so complex to manage, mainly as a result of successive governments trying to steal our savings by stealth.

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• GL

  @glynwood9916 · 5 months ago

  Probably the best UK focussed personal investment podcast. &nbsp;Each topic is explained clearly and there&apos;s very little extraneous noise. &nbsp;It&apos;s my go-to podcast during my commute. &nbsp;Well done!

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• ST

  @steventaberham · 5 months ago

  At the very least, if you retire early make sure you utilise your personal allowance by withdrawing some taxable money out of your pension. (£12,570)

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• DA

  @davemate-p6z · 5 months ago

  As soon as you possibly can is the correct answer.<br>I&apos;ve seen a couple of colleagues pass away while still working and others get really ill, (largely due to workplace stress).<br>What will you need loads of cash for in your 90s if you live that long?

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• HA

  @Hamish_A · 5 months ago (edited)

  IMPORTANT point. DB pensions do not trigger MPAA !

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• TM

  @TM-rq3jp · 5 months ago

  Noone talks about people who are nearing 67 who can take state pension and a deferred db pension with lump sum. They have no mortgage have maxed isa and bonds how to not pay 40% tax or what to with lumpsum

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• ST

  @SteveParker-h4k · 4 months ago

  I love this vlog..what a great explanation about tax efficiences and how to drawdown your pension in the most tax efficient way ..

• TO

  @tommywinter1657 · 5 months ago

  Really helpful, thank you

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• IM

  @iminmypjs3428 · 5 months ago

  I think we need a shift around what you pointed out as &quot;early retirement age&quot; bring 57. It&apos;s not early at all consideting the healthy years most Brits get are 63 so essentially you only get a few years to enjoy your retirement before bad health stops you.

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• CH

  @ChristopherGraham-s6d · 5 months ago

  Experts never mentioned that if you are near or over the £1M pension pot you should try and get you tax free cash out and into other tax free investments. I withdraw £40K tax free cash every year and use my wife and I ISA allowance. This way it continues to grow tax free whereas if left in SIPP any growth would be taxed as it would be over the lifetime limit.

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