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Taking money from your pension

Taking money from your pension

Discover the different ways to withdraw money from a pension, including the benefits and risks. This guide, which is not personal advice, explains the three main ways to take money from a private pension and reveals the answers to these common questions:

  • How do I find my pension from years ago?
  • How much tax will I pay on pension withdrawals?
  • How much tax-free cash can I get?
  • How do I keep my pension invested?

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    What you do with your pension is an important decision. We strongly recommend you understand your options and check the option you choose is right for your circumstances. If you’re unsure take advice or seek guidance. The government's Pension Wise service offers a free impartial service to help you understand your retirement options.

    The information on our website and this guide aren’t personal advice. We can offer advice if specifically requested. Tax rules change and benefits depend on individual circumstances.

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    Discover the different ways to withdraw money from a pension, including the benefits and risks.

    This guide explains the three main ways to take money from a private pension and reveals the answers to these common questions:

    • How do I find my pension from years ago?
    • How much tax will I pay on pension withdrawals?
    • How much tax-free cash can I get?
    • How do I keep my pension invested?

    What you do with your pension is an important decision. We strongly recommend you understand your options and check the option you choose is right for your circumstances. If you’re unsure take advice or seek guidance. The government's Pension Wise service offers a free impartial service to help you understand your retirement options.

    The information on our website and this guide aren’t personal advice. We can offer advice if specifically requested. Tax rules change and benefits depend on individual circumstances.