Independent Financial Adviser in Colchester, Essex - Woodruff Financial Planning
independent financial advisers colchester essex members of the institute of financial planning (IFP)Independent Financial Adviser in Colchester Essex
   
independent financial adviser in colchester essex

Tax Free Cash

What is Tax Free Cash?

Tax Free cash is the lump sum that can be withdrawn from your pension when you retire from the scheme and take your income for your pension.

Under a personal pension, tax free cash is easy to calculate. You will be allowed to take 25% of the fund as tax free cash. This is available as a lump sum, and this must be taken before the annuity (or pension income) is bought.

If you decide to take the tax free cash this will obviously reduce the size of the fund available for the annuity, and your income will therefore be reduced in retirement

Under a retirement annuity plan or an occupational pension the situation is similar. However, the formula for working out the tax free cash is slightly complicated - you would need advice in this area if you are considering taking tax free cash from one of these arrangements.

Click here to see our leaflets on pensions.

Click here to see a leaflet on why you should review your pension plans.

If you are about to retire and need advice on whether to take your tax free cash (or indeed where to invest it), please contact us.

 

 


Free newsletter





independent financial adviser colchester essex interactive quiz
Click here to test your finances with our interactive quiz!

contact us about tax free cash

get a personal pension plan quote online

Got a question? Click here for an instant answer!
--- Pensions --- What is a pension? --- Personal Pension --- Stakeholder Pensions --- What we will do --- Pension Quotes --- Tax free cash --- Tax relief --- Retirement annuity plan --- Company pension scheme --- Group personal pension --- Options at retirement --- Pension annuity --- Open Market Option --- Income Drawdown --- Phased Retirement --- Money Purchase scheme --- Final Salary Scheme --- EPP --- SIPP --- SSAS --- Pensions and divorce ---
--- Write: Suite 43, The Colchester Centre, Hawkins Road , Colchester, Essex, CO2 8JX --- Phone: 01206 266882 --- Email: click here ---
--- Site Map --- Site Conditions of Use ---

Dan Woodruff, trading as Woodruff Financial Planning, is an Independent Financial Adviser with Julian Harris Financial Consultants who are Independent Financial Advisers authorised and regulated by the Financial Services Authority No. 153566.
By viewing this site, you are deemed to accept our terms and conditions in full. This site is for information only, and does not constitute financial advice.
Independent Financial Adviser Colchester Essex UKFor United Kingdom residents over 18 only. © 2003 - 2008 Woodruff Financial Planning.