Private pension and employment

Hi I am in full time employment and also over 55. I've decided to take some of my pension out. The pension company has told me that even though I'm taxed at basic rate they will have to tax the withdrawal at 40% and HMRC will then send them my correct code and any future withdrawals will be taxed at the correct rate. My question is, is that correct and how long will HMRC take to send the correct code over and how long does it take to get a refund. Thanks

Hi libbie66

HMRC will send the revised tax code once we receive details of the first pension payment.

You can then follow this link here regarding claiming a refund:

How to claim a tax refund

Thank you. 

Thanks @HMRC Admin 25 😊