Taking lump sums from more than one pension pot

I stopped working in June 2023 and am now a full time carer for my wife. I am in receipt of an HM Forces pension, paid monthly, I also receive Carer’s Allowance. I have two other pension pots, one from many years ago and one from my most recent employment. One pot is in the order of £17,150 and the other in the order of £19,500 I would like to take each of the pots as a lump sum (25% tax free and the balance taxable), one during this financial year and one either next financial year or at a later date. Are you able to advise if it is permissible to to this please? Further to this, would I be able to take out the whole of one pot and part of the other this financial year.

Hi

We cannot provide financial advice in this forum.  For that you will need to seek professional advice.  
It is up to you whether you take the lump sums in different tax years or the same tax year.  
You will receive 25% tax free either way.

Thank you.

Hi I am working and earn 45000 a year .I want to take a lump some of 40000 out my pension ...would I need to fill a tax form in or will hmrc adjust my tax code I am paye

Hi
If you receive an 'unathorised payment' from your pension provider, then a tax return will be required.  (Pension schemes and unauthorised payments).

Hello, just to confirm the reply to Steve - it is possible to take 25% of a pension pot one year tax free and then 25% of a different pension pot tax free another year?

Itook some money from my retirement account and paid tax on it. Then my employers tax code changed to 357L I am now paying 38 pounds a week extra tax. Can i get this back?

Hi,
Unfortunately, it is not possible to check individual tax records through this forum, if you have a question which relates to your personal tax situation or tax code please contact our helpline.
Income Tax: general enquiries
Thank you.

I have several pension pots that I feel that I do not need to consolidate. I have now retired and wish to drawdown the 'tax free' 25%. I need to understand whether various pots must be consolidated first (which costs me money) or whether I can take 25% from each pot. If I do drawdown 25%, do I incur tax being taken by the various pension funds and I then claim tax back later via tax return (and therefore lose out on these monies for some months) or is there a way to avoid these deductions? If I do drawdown, what documentation do I need to retian to evidence to HMRC (if required) the various valuations - seems that I can only get screen prints etc from eack fund via normal customer log-ins which seems a little flimsy. If I ask for hard copy letters of valuations, they will be out of date by time I drawdown.

Hi ,
 

You can usually take up to 25% of the amount built up in any pension as a tax-free lump sum. The most you can take is £268,275.  Please have a look at the guidance at :  Tax when you get a pension  . Thank you .