The Mudcat Café TM
Thread #132930   Message #3015155
Posted By: Bonzo3legs
25-Oct-10 - 02:06 PM
Thread Name: BS: Spending Cuts UK - The Thread
Subject: RE: BS: Spending Cuts UK - The Thread
Pension income is simply added to all other income and if the total is above the personal allowance, tax will be paid. You will be aware of course that most types of pension plan have the option of taking a tax-free cash lump sum before exchanging the residual fund for a series of payments. Ordinarily up to 25% of the fund may be taken as tax-free cash - hooray....a nice little pot to spend!!!