Partial pension encashment

June is 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 and has pension savings of £5,000 £10,000 £15,000 £20,000 £25,000 £30,000 £35,000 £40,000 £50,000 £60,000 £70,000 £80,000 . She plans to retire in 0 years 1 year 2 years 3 years 4 years 5 years 6 years 7 years 8 years 9 years 10 years time and until then she’ll carry on working and paying nothing £50 £100 £200 £300 £400 £500 £600 a month into her pension pot.

Although June doesn’t want her pension quite yet, she’d like to take £5,000 £7,500 £10,000 £15,000 £20,000 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.