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Posted Sun, 26 Nov 2023 11:42:21 GMT by Philip Coggan
The lifetime allowance is being abolished but the implications are unclear. When I took my final-salary pension, this used up the lifetime allowance but I did not take any tax-free cash. I still have unused DC pension pots. It seems clear that the additional 25% charge no longer applies to those pots. But can I take a tax-free lump sum from them? It is not clear whether there is a separate £268,000 limit on tax-free lump sums or whether, if you have already reached the old cap, tax-free lump sums are out of the question
Posted Tue, 28 Nov 2023 13:15:16 GMT by HMRC Admin 8
Please refer to:
Tax on your private pension contributions 
Thank you.

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