For spacing out my withdrawals from a personal pension pot, does the tax year count?

JohnEmile
JohnEmile Community Member Posts: 29 Connected
in Benefits and income
ESA question.

To not affect my ESA I was hoping to take 2 less than 25%, (all together) withdrawals out, and was wondering if I took one now, then the next past April 6th next year that this tax year spacing would mean I don't have to go through dealing with the ESA, etc rigmarole.

Comments

  • calcotti
    calcotti Community Member Posts: 9,999 Championing
    I don't think the tax year will have any bearing.
  • JohnEmile
    JohnEmile Community Member Posts: 29 Connected
    Drat, I should have stated that I'm in England, apologies.

  • Cartini
    Cartini Community Member Posts: 1,107 Trailblazing
    JohnEmile said:
     I was hoping to take 2 less than 25%, (all together) withdrawals out
    Hi,
    I thought you could only take 25% as one lump sum, not 2 x 12.5% (for example)

  • JohnEmile
    JohnEmile Community Member Posts: 29 Connected
    Not sure yet myself, but when I find out I'll post it here :)

  • Cartini
    Cartini Community Member Posts: 1,107 Trailblazing
    JohnEmile said:
    Not sure yet myself, but when I find out I'll post it here :)


    Thank you, that will be interesting.
    The reason I ask is because a few years back I cashed in my workplace pension to pay off my mortgage; I spent many months looking round, googling and asking questions and not once did I come across splitting the 25%.  That`s not to say you can`t, I received answers to the questions I was asking so may not have been asking the right question.

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