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You can take some, or all, of your pension pot as a cash lump sum, or you can leave it invested. However you decide to take your benefits, you'll normally be able to take 25% of your pension pot tax-free. The rest will be subject to tax.
You can withdraw funds from your PIP by either requesting a regular payment or a one off lump sum. If you choose to withdraw more than your 5% tax deferred allowance per year there may be tax to pay.
Register online Once you've registered, you can log into your pension online. Depending on the type of pension you have, you can do things like check your value, and top up your payments.
Register online Once you've registered, you can log into your pension online. Depending on the type of pension you have, you can do things like check your value, and top up your payments.
You can take money from your pension pot as and when you need it until it runs out. It's up to you how much you take and when you take it. Each time you take a lump sum of money, 25% is tax-free. The rest is added to your other income and is taxable.
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People also ask

No. Life insurance policies have no cash-in value at any time. Also, if you don't pay your premiums on time your cover will stop, your benefit will end and you'll get nothing back.
Withdrawing money from an annuity can result in penalties, including a 10% penalty for taking funds from your annuity before age 59 ½. Alternatively, you can sell a number of payments or a lump-sum dollar amount of the annuity's value for immediate cash.
You can't cash in your plan or change the basis of your income even if your circumstances change. If you transfer to us from another provider to purchase an annuity, any guaranteed benefits associated with this could be lost on transfer.
You can't cash in your plan or change the basis of your income even if your circumstances change. If you transfer to us from another provider to purchase an annuity, any guaranteed benefits associated with this could be lost on transfer.
If you want to cancel your policy To cancel your policy we will need confirmation of cancellation by all policy owners, including trustees, either in writing or over the phone.

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