Can I take any further lump sum payments on top of the tax free cash?

Published 18/03/2016 11.34 AM   |    Updated 01/11/2017 01.05 AM
Yes although this will be taxed at your marginal rate. This lump sum can be paid on the setup of your pension annuity by whichever provider pays your tax free cash assuming they can offer this facility. Speak your adviser before choosing this option as you could end up paying a significant amount of tax and of course your income will be lower because there will be less money being used to buy your annuity.

Did we answer your question?