Can I withdraw from my pension?
With a pension, you can usually withdraw your funds once you reach 55 years old. You will typically be able to access 25% of the value of your pension pot tax free. The rest is subject to income tax rules at the time of withdrawal.
Retirement planning and pension advice doesn’t end when you start withdrawing from your pension. Making sure you manage your withdrawals is an essential part of ensuring your pension lasts as long as you need it to.
You can also consider other options such as consolidation, top-ups, or regular contributions.
With investing your capital is at risk. Investments can fluctuate in value, and you may get back less than you invest. Pension eligibility applies. Tax is subject to an individual’s personal circumstances, and tax rules can change at any time.
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