Should I convert my pension for a tax free pension lump sum?
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Written on: 02.12.2009 [09:57]
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August
August
Topic creator
Posts: 2
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I would like to know the pros and cons of converting part of my pension in to a tax free pension lump sum? I have a salary index linked pension and I know that I am allowed to cash in about 25% as a lump sum and it seems like such a good offer seeing as I will get £12 per £1 or my pension that I give up. Doesn’t this sound too good to be true? Why would they offer this, isn’t it just throwing money away? |
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Written on: 07.12.2009 [05:28]
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Byrne
Byrne
Posts: 1
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As long as the money that is left over is enough for you to live off then I don’t see why not… even though for most people it isn’t. However as the money is tax free it is nice to know that you could have such a large amount as a lump sum to pay off your mortgage or go on that dream holiday etc!!!! |
| Also very interesting: | |
