Pension withdrawal tax calculator
Have you considered taking all or some of your defined contribution pension as a cash lump sum? You normally need to be over 55 years old to do this. You will also need to consider how much tax you might pay. It could make a big difference to your plans!
If you're unsure what your options are when it comes to accessing your pension pot, visit Using my pension money
Step 1: Simply input the information needed below.
Step 2: Review your results and compare them to taking other amounts. If you're making a pension withdrawal for the first time, it's likely you will be placed on an emergency tax code. As well as producing results based on standard rate tax, this calculator will show what the effects would be if an emergency tax code were to be applied. The figures represent amounts you may have to pay within the tax year 06 Apr 2019 to 05 Apr 2020.