Retirement Planning Guide
When Liz retires, she has a standard annual pension of £11,300 and an automatic tax-free lump sum of £18,750. Liz can take up to 25% of the capital value as a tax-free lump sum, which is £55,125. If she does, she will receive an extra £36,375 lump sum and her annual pension will reduce by £3,031 to £8,269.
pension plan withdrawal calculator