Pension withdrawal tax calculator

When you are considering how to take your defined contribution pension, you will need to consider how much tax you might pay on some or all of the benefits you take. It could make a big difference to your plans!

You can choose the age at which you take your retirement income. You can't normally access your money until you reach the minimum pension age.

The minimum pension age is currently age 55. From 6 April 2028 this will be age 57 unless you have a protected pension age. To find out more visit

If you are unsure what your options are when it comes to accessing your pension pot, visit Using my pension money​.

Use this calculator to find out how much tax you may have to pay.

Step 1: Simply input the information needed below.

Step 2: Review your results and compare them to taking other amounts.

The calculator produces two figures, which show the impact of tax in different ways. The "standard rate tax" figure shows the impact of tax on your overall income, including any taxable pension benefits, over the tax year as a whole. The "emergency rate tax" tab shows the impact on a lump sum payment of the tax which will probably be taken off at the time. This assumes that the lump sum is your first payment of benefits, and therefore the standard emergency tax code will be used. If you have already taken income from the same source, HMRC may have given your provider a different tax code to use, in which case the tax deduction may be different. Please contact them about this if you need further information. The figures represent amounts you may have to pay within the tax year 6 Apr 2024 to 5 Apr 2025. Tax rules are dependent on individual circumstances and are subject to change.

Step 1 of 2

Pension withdrawal

Enter the lump sum amount you want to take from your pension pot within the tax year 6 Apr 2024 to 5 Apr 2025.

This could include any salary, state pension and income from a defined benefit pension scheme but excludes savings and dividend income.

Tax-free lump sum

We assume the maximum tax-free lump sum you can take from your total pension pot is 25%.

Have you previously taken a tax-free lump sum from this pension?

What does uncrystallised mean?

  • If you have only taken UFPLS UFPLS Tooltip withdrawals, and/or pension withdrawals that included a 25% tax-free lump sum, then your uncrystallised pension pot is simply your remaining pension pot.
  • If you've previously taken pension withdrawals which were made up of more than a 25% tax-free lump sum, then you will have money within your pension that will now be fully subject to income tax when you withdraw again. This is because you've already used your tax-free allowance on this money. The money is now fully subject to income tax and is known as your 'crystallised pension pot or drawdown pot'.
  • The remaining money in your pension, if any, is known as your 'uncrystallised pension pot'. You can still take 25% tax-free on any lump sum withdrawals from this pot.

Results are based on the assumption that this total includes all defined contribution pension pots you hold.

This calculator is based on general information including the standard Personal Allowance and tax bands used by HMRC for 06 Apr 2024 to 05 Apr 2025 tax year using UK rates for England and Northern Ireland. Scottish and Welsh income tax thresholds may differ.

It's designed to help you by producing an illustrative example of how much tax you may have to pay. This is not a personal recommendation.

Defined contribution pension

A defined contribution pension is where you and your employer, and possibly a third party like your spouse or civil partner can all make agreed contributions to your pension fund. By the time you retire, the size of the pension fund will depend on contributions made, length of time invested, investment returns and charges taken.

Defined benefits pension scheme

This is a pension scheme in which the members are entitled to a certain level of pension benefit. It is defined by a formula which uses the member's length of pensionable service in conjunction with their salary to help determine benefits upon retirement. A final salary pension scheme is probably the most common type of defined benefits pension scheme.

Uncrystallised funds pension lump sum

An uncrystallised funds pension lump sum (UFPLS) is a type of payment that enables you to access your pension pot flexibly without first creating a flexi-access drawdown fund. The UFPLS can be paid from part – or all – of your uncrystallised fund, with 25% tax free and the other 75% taxable at your marginal rate.

Personal allowance

The Personal Allowance is the amount of taxable income a UK resident individual can have in a tax year before they begin to pay income tax on any income above that figure. For the tax year starting in April 2024 it is £12,570, regardless of an individual's age. It can be reduced or lost altogether once an individual earns more than £100,000 p.a.