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Posted Fri, 14 Jun 2024 12:46:39 GMT by Steve
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.
Posted Tue, 18 Jun 2024 11:20:36 GMT by HMRC Admin 5
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.

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