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Tony Davies

Tony Davies

Joined: 10/16/2024

  • Taxation on pensions and contribution restrictions

    Wed, 16 Oct 2024 11:16:36 GMT – Taxation on pensions and contribution restrictions
    Hi, Can I take my 25% tax free from a defined contribution pension, leave the remaining 75% and then start a new DC pension, contributing up to £60,000 per year? Then I assume I can take another 25% tax free from the new pension.

  • Taxation on pensions and contribution restrictions

    Wed, 16 Oct 2024 09:36:52 GMT – Taxation on pensions and contribution restrictions
    I would like to check the rules around accessing pensions. I am 55 and have a defined contribution pension that both myself and employer contribute to. Can I access the 25% tax free lump sum and leave the balance crystallised without drawing down and then open a fresh DC pension (with the same provider) and continue to contribute up to £60,000 per year, which would then generate another tax free amount of 25%? Advice on this is difficult to find but from research this seems to be within the rules.