SE23 Forum

1 ) Can I take all my private pension in cash
2 ) Carry on working until I hit 66
3 ) Stop paying into any private pensions

If yes to above 3, would there be any tax/NI penalties - aware that i would a big sun in tax if I were to tale all pension in cash, however would there be any other penalties

I think the answers are as follows:-

1. Yes. But you can take 25% tax free. If you take more I think you pay at 55%. Probably makes sense to draw down in future years.

2. Yes. You can freeze your pension.

3 Yes. You can stop paying in. But your employer also stops paying in.


If you are trying to get at your money, you may need to get another job and claim your current pension.

For 3 I think I should add that you are not currently paying income tax or NI on your pension contribution. Therefore, your tax and NI will increase.

Thank you Sherwood