For spacing out my withdrawals from a personal pension pot, does the tax year count?
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JohnEmile
Community member Posts: 29 Connected
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
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I don't think the tax year will have any bearing.Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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Drat, I should have stated that I'm in England, apologies.
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JohnEmile said:I was hoping to take 2 less than 25%, (all together) withdrawals outHi,I thought you could only take 25% as one lump sum, not 2 x 12.5% (for example)
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Not sure yet myself, but when I find out I'll post it here
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JohnEmile said:Not sure yet myself, but when I find out I'll post it hereThank 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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Doing anything with a pension ?
Its never a bad idea to speak to pension wise.
https://www.citizensadvice.org.uk/debt-and-money/pensions/get-ready-for-your-pension-wise-appointment/
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