FTAdviser13d
Fifth of people withdraw cash lump sum from pension at 55
A fifth of people who withdraw a cash lump sum from their pension pot do so at the age of 55 but do not have a full ...
How do I cut the tax on taking cash from my pension? STEVE WEBB replies
I want to understand more about the tax-free 25% as this forms a big part of my strategy, which is to take more of it in the ...
Should you withdraw a lump sum from your pension at 55?
Making pension withdrawals without first seeking advice could affect your tax bill and entitlement to benefits ...
IHT tax on pensions must ‘loosen’ where lump sums are not for estate management
Many DB schemes pay out lump sums on death but these are often by scheme design and not any form of wealth transfer- they are ...
Tax Guru19h
UPS vs NPS vs OPS: Comprehensive Guide to Pension Schemes
In the history of pension schemes, UPS is the latest addition. UPS is a pension scheme, however, here an employee has to contribute 10% of their basic pay and the DA (dearness allowance). The ...
£500,000 tax-free QROPS pension loophole now closed
Following Rachel Reeves’ 2024 Budget, the Qualifying Recognised Overseas Pension Schemes (QROPS) pension loophole has now ...
More than 1m issued Inheritance Tax warning after Rachel Reeves makes major change
Couples who are not married risk passing down a 40% tax bill to relatives under Rachel Reeves' plan to put inheritance tax on ...
Which5d
HMRC pays back £49m in overpaid pension tax: are you owed a refund?
The first is to take an uncrystallised fund pension lump sum (UFPLS). You can take a 25% lump sum of your pension tax-free, and then the rest is charged at your normal income tax rate. The second is ...