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Posted Wed, 12 Jul 2023 12:25:16 GMT by
Hi, I have two defined contribution pension pots, one with my old employer (£100k) and one private one in a SIPP (£160k) I understand that I can take 25% out of each pot as a tax free lump sum which would be £65k (£25k + £40k) My question is, can I take my total tax free allowance of £65k all from the SIPP? I understand that I would then not be able to take anything tax free from the other pension. Many thanks
Posted Thu, 13 Jul 2023 15:48:26 GMT by HMRC Admin 10 Response
Hi
No, each pension pot has its on 25% tax free and that limit cannot be transferred to other pensions.
Thankyou.
Posted Mon, 14 Aug 2023 13:36:47 GMT by
Is the reply correct information from HMRC. Can you give the HMRC reference please. Thank you
Posted Wed, 16 Aug 2023 18:57:10 GMT by HMRC Admin 25 Response
Hi Tony Ward,
Please refer to:
Tax when you get a pension
Thank you. 
 

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