Pensioners are at risk of paying more tax than necessary by withdrawing over 25% of their fund in one lump sum, a Prudential analysis has found.
Almost one in five (19%) people planning to retire this year told the insurer they would withdraw over the 25% tax-free lump sum limit, which could mean they end up paying a one-off tax bill or a h...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date