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","thankYouText":"Thank you for signing up.
","title":"Get insights and events via email","contentType":null,"key":"860543f0-52df-45f8-bc29-271a45595ce1","properties":null},"settings":{"purpleBlockStyle":false,"contentType":null,"key":"157ad324-4516-4080-b5fd-9a27ed48e28b","properties":null},"blockType":"newsletterSignUpBlock"}],"twitterTitle":"Lump sum withdrawals","twitterDescription":"Some providers allow unlimited lump sum withdrawals from your pension, which includes 25% as tax-free cash. Find out more about lump sum withdrawals here.","twitterImage":null,"ogTitle":"Lump sum withdrawals","ogDescription":"Some providers allow unlimited lump sum withdrawals from your pension, which includes 25% as tax-free cash. Find out more about lump sum withdrawals here.","ogImage":null,"metaTitle":"Lump sum withdrawals | Withdrawing your pension","pageDescription":"Some providers allow unlimited lump sum withdrawals from your pension, which includes 25% as tax-free cash. Find out more about lump sum withdrawals here.","canonicalURL":null,"hideFromSitemap":false,"pageTitle":"Lump sum withdrawals","navigationTitle":"Lump sum withdrawals","umbracoNaviHide":false,"blockModules":[{"content":{"standardRiskWarnings":{"body":"The decision to access your pension is an important one and will affect your income and possibly your standard of living for years to come.
Therefore we recommend that before any decision is made you receive regulated financial advice or get free guidance from Pension Wise.
Modal body text
","contentType":null,"key":"94cdc483-7832-491b-9450-b1b126bbb866","id":3041,"name":"First Modal","urlSegment":"first-modal","sortOrder":0,"level":3,"path":"-1,3039,3040,3041","creatorId":-1,"createDate":"2024-03-13T10:55:08Z","writerId":2,"updateDate":"2025-05-16T09:22:26.523Z","cultures":{"":{"culture":"","name":"First Modal","urlSegment":"first-modal","date":"2024-03-13T10:55:08Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null}],"childrenForAllCultures":[{"modalWidth":500,"text":"Modal body text
","contentType":null,"key":"94cdc483-7832-491b-9450-b1b126bbb866","id":3041,"name":"First Modal","urlSegment":"first-modal","sortOrder":0,"level":3,"path":"-1,3039,3040,3041","creatorId":-1,"createDate":"2024-03-13T10:55:08Z","writerId":2,"updateDate":"2025-05-16T09:22:26.523Z","cultures":{"":{"culture":"","name":"First Modal","urlSegment":"first-modal","date":"2024-03-13T10:55:08Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null}],"properties":null}],"childrenForAllCultures":[{"contentType":null,"key":"383af845-1c71-44b9-b9b1-9c8ac0264491","id":3040,"name":"Modals","urlSegment":"modals","sortOrder":0,"level":2,"path":"-1,3039,3040","creatorId":-1,"createDate":"2024-03-13T10:54:32Z","writerId":-1,"updateDate":"2024-04-18T14:27:22.157Z","cultures":{"":{"culture":"","name":"Modals","urlSegment":"modals","date":"2024-03-13T10:54:32Z"}},"itemType":2,"children":[{"modalWidth":500,"text":"Modal body text
","contentType":null,"key":"94cdc483-7832-491b-9450-b1b126bbb866","id":3041,"name":"First Modal","urlSegment":"first-modal","sortOrder":0,"level":3,"path":"-1,3039,3040,3041","creatorId":-1,"createDate":"2024-03-13T10:55:08Z","writerId":2,"updateDate":"2025-05-16T09:22:26.523Z","cultures":{"":{"culture":"","name":"First Modal","urlSegment":"first-modal","date":"2024-03-13T10:55:08Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null}],"childrenForAllCultures":[{"modalWidth":500,"text":"Modal body text
","contentType":null,"key":"94cdc483-7832-491b-9450-b1b126bbb866","id":3041,"name":"First Modal","urlSegment":"first-modal","sortOrder":0,"level":3,"path":"-1,3039,3040,3041","creatorId":-1,"createDate":"2024-03-13T10:55:08Z","writerId":2,"updateDate":"2025-05-16T09:22:26.523Z","cultures":{"":{"culture":"","name":"First Modal","urlSegment":"first-modal","date":"2024-03-13T10:55:08Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null}],"properties":null}],"properties":null},"children":[{"body":"The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
","notes":"","title":"","contentType":null,"key":"e3d0402d-d19e-40a9-aa67-f4d859c9f63d","id":5283,"name":"3. Value of your investments","urlSegment":"3-value-of-your-investments","sortOrder":1,"level":3,"path":"-1,3039,5282,5283","creatorId":-1,"createDate":"2024-11-13T17:21:02Z","writerId":-1,"updateDate":"2024-11-19T13:53:57.087Z","cultures":{"":{"culture":"","name":"3. Value of your investments","urlSegment":"3-value-of-your-investments","date":"2024-11-13T17:21:02Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The specific securities identified and described are for informational purposes only and do not represent recommendations.
","notes":"","title":"","contentType":null,"key":"a61b2ca9-4e47-45c0-9f88-b37bd14c50ad","id":5284,"name":"9. Specific securities","urlSegment":"9-specific-securities","sortOrder":2,"level":3,"path":"-1,3039,5282,5284","creatorId":-1,"createDate":"2024-11-14T10:25:23Z","writerId":-1,"updateDate":"2024-11-19T13:53:57.29Z","cultures":{"":{"culture":"","name":"9. Specific securities","urlSegment":"9-specific-securities","date":"2024-11-14T10:25:23Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"SIPPs are not suitable for everyone as they may be more expensive than other types of pensions. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you. The Best SIPP is designed for people looking to invest at least £10,000 through any combination of one-off investments, regular contributions or transfers from other providers, over a short time frame.
","notes":"","title":"","contentType":null,"key":"7e27a9a5-560f-43ff-9a3d-2aae0cbfff00","id":5287,"name":"16. Sipps","urlSegment":"16-sipps","sortOrder":5,"level":3,"path":"-1,3039,5282,5287","creatorId":-1,"createDate":"2024-11-15T16:22:15Z","writerId":-1,"updateDate":"2025-02-03T10:55:30.657Z","cultures":{"":{"culture":"","name":"16. Sipps","urlSegment":"16-sipps","date":"2024-11-15T16:22:15Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Transfer considerations. Transfers should only be considered for pensions which do not offer any guaranteed or safeguarded benefits - not final salary or defined benefit schemes or pensions that offer particular annuity rates and other promises. You should ensure that by transferring you are not incurring unnecessary penalties, losing any benefits or features, and have considered any increase in pension charges.
","notes":"","title":"","contentType":null,"key":"ef005e57-13ee-4235-b529-6f516f67dff5","id":5288,"name":"15. Transfers","urlSegment":"15-transfers","sortOrder":6,"level":3,"path":"-1,3039,5282,5288","creatorId":-1,"createDate":"2024-11-15T16:30:51Z","writerId":-1,"updateDate":"2024-11-19T13:53:58.383Z","cultures":{"":{"culture":"","name":"15. Transfers","urlSegment":"15-transfers","date":"2024-11-15T16:30:51Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
\nTax treatment depends on the individual circumstances of each client and may be subject to change in the future.
","notes":"","title":"","contentType":null,"key":"cb98df25-73ed-4559-9947-d1b5ca6d169f","id":5289,"name":"4. Value and Tax","urlSegment":"4-value-and-tax","sortOrder":7,"level":3,"path":"-1,3039,5282,5289","creatorId":-1,"createDate":"2024-11-18T12:34:21Z","writerId":-1,"updateDate":"2024-11-27T15:39:16.84Z","cultures":{"":{"culture":"","name":"4. Value and Tax","urlSegment":"4-value-and-tax","date":"2024-11-18T12:34:21Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"As with all stock market investments the value of the Junior ISA can fall as well as rise and you may get back less than has been paid in.
Tax treatment depends on individual circumstances and may be subject to change in the future.
With pension investment, both the money you invest and the income from it can fall in value.
Before transferring, see Transfer considerations.
The value of investments can fall as well as rise and that you may not get back the amount you originally invested.
\nNothing in these briefings is intended to constitute advice or a recommendation and you should not take any investment decision based on their content.
\nAny opinions expressed may change or have already changed.
","notes":"","title":"","contentType":null,"key":"8e5ca4b2-4f3d-4f21-87ef-773fb88b2d56","id":5292,"name":"5. Professional advice","urlSegment":"5-professional-advice","sortOrder":10,"level":3,"path":"-1,3039,5282,5292","creatorId":-1,"createDate":"2024-11-19T14:48:27Z","writerId":-1,"updateDate":"2024-12-27T09:35:39.857Z","cultures":{"":{"culture":"","name":"5. Professional advice","urlSegment":"5-professional-advice","date":"2024-11-19T14:48:27Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Past performance is not a reliable indicator of future results. View full risk warning.
","notes":"","title":"","contentType":null,"key":"6d90fc31-9d2a-43ea-be14-cbb782b0d88c","id":5293,"name":"6. Full risk link","urlSegment":"6-full-risk-link","sortOrder":11,"level":3,"path":"-1,3039,5282,5293","creatorId":-1,"createDate":"2024-11-19T14:50:00Z","writerId":-1,"updateDate":"2025-03-04T14:44:19.81Z","cultures":{"":{"culture":"","name":"6. Full risk link","urlSegment":"6-full-risk-link","date":"2024-11-19T14:50:00Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Before transferring, see Transfer considerations.
","notes":"","title":"","contentType":null,"key":"b0f77c3b-ed35-490e-a324-94a0929c4e63","id":5314,"name":"1. Transfer notice","urlSegment":"1-transfer-notice","sortOrder":12,"level":3,"path":"-1,3039,5282,5314","creatorId":-1,"createDate":"2024-11-20T12:26:52Z","writerId":-1,"updateDate":"2024-11-20T12:27:04.63Z","cultures":{"":{"culture":"","name":"1. Transfer notice","urlSegment":"1-transfer-notice","date":"2024-11-20T12:26:52Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
","notes":"","title":"","contentType":null,"key":"694047db-9565-48fe-89cb-948cb96431fa","id":5455,"name":"27. Tax","urlSegment":"27-tax","sortOrder":13,"level":3,"path":"-1,3039,5282,5455","creatorId":2,"createDate":"2024-11-27T11:18:40Z","writerId":2,"updateDate":"2025-07-01T11:37:26.693Z","cultures":{"":{"culture":"","name":"27. Tax","urlSegment":"27-tax","date":"2024-11-27T11:18:40Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Past performance is not a reliable indicator of future results.
ETFs can be high risk and complex and may not be suitable for retail investors, so you should make sure you understand all the risks involved before investing.
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
The value of a pension can go down as well as up – and you could get less than the amount that's been put in.
You should consider charges, investment choices and any valuable benefits that could be lost before combining any pensions.
Pensions are long-term investments. You may get back less than you originally paid in because your capital is not guaranteed and charges may apply.
","notes":"","title":"","contentType":null,"key":"fa9a27d7-45d7-4318-b03a-41ad577dadd8","id":5321,"name":"21. Long term","urlSegment":"21-long-term","sortOrder":18,"level":3,"path":"-1,3039,5282,5321","creatorId":-1,"createDate":"2024-11-29T16:56:27Z","writerId":-1,"updateDate":"2024-11-29T16:56:37.853Z","cultures":{"":{"culture":"","name":"21. Long term","urlSegment":"21-long-term","date":"2024-11-29T16:56:27Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Income drawdown is complex and not suitable for everyone. Your pension remains invested so your income will be affected by the value and performance of underlying assets which may fall; make sure you understand the risks and costs before you go ahead.
","notes":"","title":"","contentType":null,"key":"65982c9d-78b6-4d4d-96d5-47fc3591ea1c","id":5322,"name":"22. Income drawdown","urlSegment":"22-income-drawdown","sortOrder":19,"level":3,"path":"-1,3039,5282,5322","creatorId":-1,"createDate":"2024-11-29T16:57:54Z","writerId":-1,"updateDate":"2024-11-29T16:58:02.393Z","cultures":{"":{"culture":"","name":"22. Income drawdown","urlSegment":"22-income-drawdown","date":"2024-11-29T16:57:54Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"SIPPs are not suitable for everyone as they may be more expensive than other types of pensions. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you.
Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
VCTs are higher-risk investments designed for UK resident taxpayers with an investment time horizon of greater than 5 years, which is the minimum holding period to qualify for income tax relief.
Tax reliefs depend on individual circumstances and may change. They may be difficult to sell at a price close to the value of the underlying assets or at the time of your choosing. They should only form a small part of an investor’s portfolio.
You should read the relevant prospectus before making any decisions.
The information and guidance provided by the coaches is not regulated by the Financial Conduct Authority.
","notes":"","title":"","contentType":null,"key":"e427eb8c-de84-4e4f-81f7-8be7d22376fc","id":5331,"name":"28. Coaches","urlSegment":"28-coaches","sortOrder":22,"level":3,"path":"-1,3039,5282,5331","creatorId":-1,"createDate":"2024-12-09T11:45:13Z","writerId":-1,"updateDate":"2024-12-09T11:45:23.713Z","cultures":{"":{"culture":"","name":"28. Coaches","urlSegment":"28-coaches","date":"2024-12-09T11:45:13Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Venture Capital Trusts (VCTs) are high-risk investments and you may get back less than invested.
","notes":"","title":"","contentType":null,"key":"da526787-844e-434d-a14e-3f3eee3464bc","id":5379,"name":"29. VCTs (Short)","urlSegment":"29-vcts-short","sortOrder":23,"level":3,"path":"-1,3039,5282,5379","creatorId":-1,"createDate":"2025-01-28T15:33:58Z","writerId":-1,"updateDate":"2025-03-04T10:09:37.15Z","cultures":{"":{"culture":"","name":"29. VCTs (Short)","urlSegment":"29-vcts-short","date":"2025-01-28T15:33:58Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"VCTs are higher-risk investments designed for UK resident taxpayers with an investment time horizon of greater than 5 years, which is the minimum holding period to qualify for income tax relief. The value of investments can fall as well as rise and you may get back less than invested.
\nVCTs should only be considered by experienced investors once other financial planning solutions have been fully explored and should only form a small part of your portfolio.
With pension investment, both the money you invest and the income from it can fall in value.
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
","notes":"","title":"","contentType":null,"key":"e3d0402d-d19e-40a9-aa67-f4d859c9f63d","id":5283,"name":"3. Value of your investments","urlSegment":"3-value-of-your-investments","sortOrder":1,"level":3,"path":"-1,3039,5282,5283","creatorId":-1,"createDate":"2024-11-13T17:21:02Z","writerId":-1,"updateDate":"2024-11-19T13:53:57.087Z","cultures":{"":{"culture":"","name":"3. Value of your investments","urlSegment":"3-value-of-your-investments","date":"2024-11-13T17:21:02Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The specific securities identified and described are for informational purposes only and do not represent recommendations.
","notes":"","title":"","contentType":null,"key":"a61b2ca9-4e47-45c0-9f88-b37bd14c50ad","id":5284,"name":"9. Specific securities","urlSegment":"9-specific-securities","sortOrder":2,"level":3,"path":"-1,3039,5282,5284","creatorId":-1,"createDate":"2024-11-14T10:25:23Z","writerId":-1,"updateDate":"2024-11-19T13:53:57.29Z","cultures":{"":{"culture":"","name":"9. Specific securities","urlSegment":"9-specific-securities","date":"2024-11-14T10:25:23Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"SIPPs are not suitable for everyone as they may be more expensive than other types of pensions. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you. The Best SIPP is designed for people looking to invest at least £10,000 through any combination of one-off investments, regular contributions or transfers from other providers, over a short time frame.
","notes":"","title":"","contentType":null,"key":"7e27a9a5-560f-43ff-9a3d-2aae0cbfff00","id":5287,"name":"16. Sipps","urlSegment":"16-sipps","sortOrder":5,"level":3,"path":"-1,3039,5282,5287","creatorId":-1,"createDate":"2024-11-15T16:22:15Z","writerId":-1,"updateDate":"2025-02-03T10:55:30.657Z","cultures":{"":{"culture":"","name":"16. Sipps","urlSegment":"16-sipps","date":"2024-11-15T16:22:15Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Transfer considerations. Transfers should only be considered for pensions which do not offer any guaranteed or safeguarded benefits - not final salary or defined benefit schemes or pensions that offer particular annuity rates and other promises. You should ensure that by transferring you are not incurring unnecessary penalties, losing any benefits or features, and have considered any increase in pension charges.
","notes":"","title":"","contentType":null,"key":"ef005e57-13ee-4235-b529-6f516f67dff5","id":5288,"name":"15. Transfers","urlSegment":"15-transfers","sortOrder":6,"level":3,"path":"-1,3039,5282,5288","creatorId":-1,"createDate":"2024-11-15T16:30:51Z","writerId":-1,"updateDate":"2024-11-19T13:53:58.383Z","cultures":{"":{"culture":"","name":"15. Transfers","urlSegment":"15-transfers","date":"2024-11-15T16:30:51Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
\nTax treatment depends on the individual circumstances of each client and may be subject to change in the future.
","notes":"","title":"","contentType":null,"key":"cb98df25-73ed-4559-9947-d1b5ca6d169f","id":5289,"name":"4. Value and Tax","urlSegment":"4-value-and-tax","sortOrder":7,"level":3,"path":"-1,3039,5282,5289","creatorId":-1,"createDate":"2024-11-18T12:34:21Z","writerId":-1,"updateDate":"2024-11-27T15:39:16.84Z","cultures":{"":{"culture":"","name":"4. Value and Tax","urlSegment":"4-value-and-tax","date":"2024-11-18T12:34:21Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"As with all stock market investments the value of the Junior ISA can fall as well as rise and you may get back less than has been paid in.
Tax treatment depends on individual circumstances and may be subject to change in the future.
With pension investment, both the money you invest and the income from it can fall in value.
Before transferring, see Transfer considerations.
The value of investments can fall as well as rise and that you may not get back the amount you originally invested.
\nNothing in these briefings is intended to constitute advice or a recommendation and you should not take any investment decision based on their content.
\nAny opinions expressed may change or have already changed.
","notes":"","title":"","contentType":null,"key":"8e5ca4b2-4f3d-4f21-87ef-773fb88b2d56","id":5292,"name":"5. Professional advice","urlSegment":"5-professional-advice","sortOrder":10,"level":3,"path":"-1,3039,5282,5292","creatorId":-1,"createDate":"2024-11-19T14:48:27Z","writerId":-1,"updateDate":"2024-12-27T09:35:39.857Z","cultures":{"":{"culture":"","name":"5. Professional advice","urlSegment":"5-professional-advice","date":"2024-11-19T14:48:27Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Past performance is not a reliable indicator of future results. View full risk warning.
","notes":"","title":"","contentType":null,"key":"6d90fc31-9d2a-43ea-be14-cbb782b0d88c","id":5293,"name":"6. Full risk link","urlSegment":"6-full-risk-link","sortOrder":11,"level":3,"path":"-1,3039,5282,5293","creatorId":-1,"createDate":"2024-11-19T14:50:00Z","writerId":-1,"updateDate":"2025-03-04T14:44:19.81Z","cultures":{"":{"culture":"","name":"6. Full risk link","urlSegment":"6-full-risk-link","date":"2024-11-19T14:50:00Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Before transferring, see Transfer considerations.
","notes":"","title":"","contentType":null,"key":"b0f77c3b-ed35-490e-a324-94a0929c4e63","id":5314,"name":"1. Transfer notice","urlSegment":"1-transfer-notice","sortOrder":12,"level":3,"path":"-1,3039,5282,5314","creatorId":-1,"createDate":"2024-11-20T12:26:52Z","writerId":-1,"updateDate":"2024-11-20T12:27:04.63Z","cultures":{"":{"culture":"","name":"1. Transfer notice","urlSegment":"1-transfer-notice","date":"2024-11-20T12:26:52Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
","notes":"","title":"","contentType":null,"key":"694047db-9565-48fe-89cb-948cb96431fa","id":5455,"name":"27. Tax","urlSegment":"27-tax","sortOrder":13,"level":3,"path":"-1,3039,5282,5455","creatorId":2,"createDate":"2024-11-27T11:18:40Z","writerId":2,"updateDate":"2025-07-01T11:37:26.693Z","cultures":{"":{"culture":"","name":"27. Tax","urlSegment":"27-tax","date":"2024-11-27T11:18:40Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Past performance is not a reliable indicator of future results.
ETFs can be high risk and complex and may not be suitable for retail investors, so you should make sure you understand all the risks involved before investing.
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
The value of a pension can go down as well as up – and you could get less than the amount that's been put in.
You should consider charges, investment choices and any valuable benefits that could be lost before combining any pensions.
Pensions are long-term investments. You may get back less than you originally paid in because your capital is not guaranteed and charges may apply.
","notes":"","title":"","contentType":null,"key":"fa9a27d7-45d7-4318-b03a-41ad577dadd8","id":5321,"name":"21. Long term","urlSegment":"21-long-term","sortOrder":18,"level":3,"path":"-1,3039,5282,5321","creatorId":-1,"createDate":"2024-11-29T16:56:27Z","writerId":-1,"updateDate":"2024-11-29T16:56:37.853Z","cultures":{"":{"culture":"","name":"21. Long term","urlSegment":"21-long-term","date":"2024-11-29T16:56:27Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Income drawdown is complex and not suitable for everyone. Your pension remains invested so your income will be affected by the value and performance of underlying assets which may fall; make sure you understand the risks and costs before you go ahead.
","notes":"","title":"","contentType":null,"key":"65982c9d-78b6-4d4d-96d5-47fc3591ea1c","id":5322,"name":"22. Income drawdown","urlSegment":"22-income-drawdown","sortOrder":19,"level":3,"path":"-1,3039,5282,5322","creatorId":-1,"createDate":"2024-11-29T16:57:54Z","writerId":-1,"updateDate":"2024-11-29T16:58:02.393Z","cultures":{"":{"culture":"","name":"22. Income drawdown","urlSegment":"22-income-drawdown","date":"2024-11-29T16:57:54Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"SIPPs are not suitable for everyone as they may be more expensive than other types of pensions. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you.
Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
VCTs are higher-risk investments designed for UK resident taxpayers with an investment time horizon of greater than 5 years, which is the minimum holding period to qualify for income tax relief.
Tax reliefs depend on individual circumstances and may change. They may be difficult to sell at a price close to the value of the underlying assets or at the time of your choosing. They should only form a small part of an investor’s portfolio.
You should read the relevant prospectus before making any decisions.
The information and guidance provided by the coaches is not regulated by the Financial Conduct Authority.
","notes":"","title":"","contentType":null,"key":"e427eb8c-de84-4e4f-81f7-8be7d22376fc","id":5331,"name":"28. Coaches","urlSegment":"28-coaches","sortOrder":22,"level":3,"path":"-1,3039,5282,5331","creatorId":-1,"createDate":"2024-12-09T11:45:13Z","writerId":-1,"updateDate":"2024-12-09T11:45:23.713Z","cultures":{"":{"culture":"","name":"28. Coaches","urlSegment":"28-coaches","date":"2024-12-09T11:45:13Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Venture Capital Trusts (VCTs) are high-risk investments and you may get back less than invested.
","notes":"","title":"","contentType":null,"key":"da526787-844e-434d-a14e-3f3eee3464bc","id":5379,"name":"29. VCTs (Short)","urlSegment":"29-vcts-short","sortOrder":23,"level":3,"path":"-1,3039,5282,5379","creatorId":-1,"createDate":"2025-01-28T15:33:58Z","writerId":-1,"updateDate":"2025-03-04T10:09:37.15Z","cultures":{"":{"culture":"","name":"29. VCTs (Short)","urlSegment":"29-vcts-short","date":"2025-01-28T15:33:58Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"VCTs are higher-risk investments designed for UK resident taxpayers with an investment time horizon of greater than 5 years, which is the minimum holding period to qualify for income tax relief. The value of investments can fall as well as rise and you may get back less than invested.
\nVCTs should only be considered by experienced investors once other financial planning solutions have been fully explored and should only form a small part of your portfolio.
With pension investment, both the money you invest and the income from it can fall in value.
If your provider allows it, you can make as many lump sum withdrawals from your pension as you like. These might be to pay off your mortgage, pay a child’s house deposit or enjoy a well-earned holiday. Everyone is entitled to 25% of their pension as tax-free cash, and anything in excess of this will be taxed as regular income.
\nYou are entitled to 25% of your pension as tax-free cash – otherwise known as your pension commencement lump sum. You can take this in one go when you retire, or split it up into several smaller chunks totalling your 25% amount over several years.
\nSome providers may allow you to take as many lump sums from your pension as you like. You may also see these referred to as uncrystallised fund pension lump sums or UFPLS for short. Any withdrawals in excess of your 25% tax-free amount will be taxed as regular income. Ex-Pensions Minister Steve Webb famously said that you could technically withdraw your whole pension fund in one go to buy a Lamborghini!
","contentType":null,"key":"7d07fb24-f1b7-431b-a7e6-5ae4d7647d35","properties":null},"settings":{"purpleBlockStyle":false,"contentType":null,"key":"1ea21400-854c-4e50-9784-3db08a619c6b","properties":null},"blockType":"fullTextBlock"},{"content":{"text":"You could technically withdraw your whole pension fund in one go to buy a Lamborghini","contentType":null,"key":"e0409f38-6352-4380-ba7f-542792e30e47","properties":null},"settings":{"purpleBlockStyle":false,"contentType":null,"key":"f6294ec2-380e-4b16-af36-9c6e45132c6c","properties":null},"blockType":"quoteBlock"},{"content":{"text":"Your pension needs to provide an income for the rest of your life. So if you are considering taking a lump sum, especially in excess of your 25% amount, you should talk to a financial planner first. Our financial planners can show you how much you could take without running out of money.
","contentType":null,"key":"b99c6742-dce0-4544-a477-c45b3f547188","properties":null},"settings":{"purpleBlockStyle":false,"contentType":null,"key":"9c303731-3cc0-4949-9563-083a097fb60d","properties":null},"blockType":"fullTextBlock"},{"content":{"subtitle":"Talk to our pension and retirement experts to find out more about your options at retirement:","title":"Speak to an expert about retirement","contentType":null,"key":"8d06871d-1526-460d-9498-0506818525b0","properties":null},"settings":{"purpleBlockStyle":false,"contentType":null,"key":"36983698-d969-4091-bd87-b110f9e14e86","properties":null},"blockType":"contactUsBlock"},{"content":{"text":"The decision to access your pension is an important one and will affect your income and possibly your standard of living for years to come. Therefore we recommend that before any decision is made you receive regulated financial advice or get free guidance from Money Helper.
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