Money & Business
Retirement planning made easy
...account how much tax will be deducted from your gross income. What about tax? While up to 25% of your pension pot can be taken tax-free, the other 75% counts as taxable income if it is taken as a lump sum payment. Any annual income you take – for example from an annuity you buy with your pension pot – will also count as taxable income. Income tax will apply when your...