RETIREMENT MENU
Minimum age: 55
Cash please
You can have a maximum of 25% of the value of your pension funds (This refers
to personal pensions; the rules are different for a Final Salary Scheme where
the benefit is based on the salary and years of service.). So, if your pension
funds total up to £20,000, you can get £5,000 as tax-free cash. If they are worth
£100,000, you can have £25,000 tax free.
More 'Menu' to follow next week
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