If you access your pension pot flexibly, then income tax will usually be payable. Here we look at how tax is collected and some problem areas to be aware of.

You may be able to draw money out of your defined contribution pension (also called a money purchase pension) very flexibly – as much as you like, when you like, once you have reached the normal minimum pension age. You have a great deal of control – but the rules are very complicated in many ways, ...

There are many things to think about when you start drawing a pension, as the additional income you receive can have a knock-on effect on other areas of your finances.   

Some small occupational pensions can be cashed in under what are called the ‘trivial commutation’ rules. Also, pensions with small values may, in some cases, be cashed in as a lump sum under separate rules which apply to ‘small pots’ (these are not the same as the flexible pensions rules). If ...

If possible, it is a good idea to plan ahead before taking money from your pension. Here we look at why this is important and introduce some of the key considerations to be aware of. 

On this page we look at what pension income is taxable and provide an overview of how it is taxed.