You won't have to pay tax on investment returns while held in a pension. When you start withdrawing money from your pension in retirement, you can usually take up to 25% tax-free. The remaining 75% is taxed as income (just like your salary). You'll need to take into account any other income you may receive, such as the State Pension.
How much tax you pay and when will depend on how you choose to take money from your pension. Learn more about withdrawing money from your pension.
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Getting help in difficult circumstances
Please contact us if you’re having financial difficulties, navigating a difficult time in your life, or if your mental wellbeing is affected. This happens to many in these uncertain times. We’re here to help.
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