Link Administration Holdings Limited completes its purchase of the Capita Asset Services division of Capita plc.
Angela splits ad-hoc pension withdrawals over tax years
Angela has a pension pot of £20,000. She and her husband have a generous retirement income from their employers, so they do not need this pension to live on. Angela decides to take the money as cash, but if she takes it in one go, she will be pushed into paying higher rate tax for that tax year. Instead, she takes out an LFS Cash Fund Drawdown plan and takes her savings over two tax years, so continues to pay basic rate tax.
This example is for illustration only. It should not be taken as advice.