Partial pension encashment

June’s story – 65 years old

June is thinking about finishing work and wants her pension to fund her retirement. What she’d like most is the flexibility to take out lump sums when she needs it. She’s happy with the way her money’s been invested so far and doesn’t really want to change anything but she wants to withdraw some of her money for a holiday.

June’s full story

and has . time and until then she’ll carry on working and a month into her pension pot.

Although June doesn’t want her pension quite yet, out for a well-deserved holiday. She can take this money through a Partial Pension Encashment (PPE), 25% of which will be tax-free. The rest is classed as income and taxed accordingly.

This option works well for June as she wants to continue to keep her pension pot where it is.

Please click here to read the assumptions we’ve made

Scroll down to see June’s figures

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