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Tax on Pension Lump Sum at Retirement

Last post Tue, Apr 22 2008, 8:37 AM by Queen B. 1 replies.
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  •  Tue, Apr 22 2008, 8:37 AM

    Re: Tax on Pension Lump Sum at Retirement

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    I believe that whatever the rules were when you took out your pension plan, will still apply to you on retirement. One can not be sure regarding government legislation...but normally it is not applied retrospectively as this would be a breach of contract.
    • Post Points: 5

  •  Mon, Apr 21 2008, 10:31 AM

    Tax on Pension Lump Sum at Retirement

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    I am due to retire in April 2011, I understand that some pension rules are changing in 2010.

    Currently the rules allow for a maximum of 25% to be taken as a lump sum tax free, does anybody know if this will still be the case after the changes in 2010. I have heard a rumour that Gordon Brown is going to do another raid on pensions by taxing this lump sum.

    Thanks in advance.
    • Post Points: 20