Pension withdrawal
Our Pension Withdrawal section is the perfect place to start planning your retirement. Discover more about drawdown and the important tax facts, including how the pension lifetime allowance and money purchase annual allowance works.
PENSION WITHDRAWAL BASICS
How to withdraw money from a pension fund
Find out how to access your pension and how the withdrawal process works.
Can I cash in my pension?
Find out the rules for accessing your state, personal and workplace pensions including how old you need to be and the most common withdrawal methods.
Pension lifetime allowance
Read about the abolition of the LTA and the allowances that have replaced it.
The lump sum allowance, lump sum death benefit allowance, and overseas transfer allowance
Learn more about the lump sum allowance, the lump sum and death benefit allowance and the overseas transfer allowance.
Should I take a lump sum from my pension?
Once you reach the age of 55 you’ll have the option of taking some or all of your pension out in cash. We explain in more detail.
What is a deferred pension?
Learn what a deferred pension is and the benefits of delaying taking your workplace and personal pensions, and also the State Pension.
What is income drawdown?
Discover what income drawdown is and how you can use it to access your pension from the age of 55. Learn how income drawdown from PensionBee works.
When can I claim my pension?
Discover the different rules for claiming your workplace, personal and State Pension.
THE PENSION WITHDRAWAL RULES
Taking an early pension
If you want to take an early pension here are a few things you'll need to consider.
Income drawdown charges
Find out what drawdown fees your pension provider may charge you when you access your pension, including administration and withdrawal fees.
How does pension drawdown tax work?
Find out what drawdown fees your pension provider may charge you when you access your pension, including administration and withdrawal fees.
Emergency tax on pensions
Emergency tax can sometimes be charged on lump-sum pension withdrawals. Find out how it works and how you can reclaim overpayments from HMRC.
Early pension release rules
Find out what early pension release is and the rules and consequences of withdrawing money from your pension before the age of 55.
Money purchase annual allowance
Unsure what the money purchase annual allowance (MPAA) is? Find out how it can impact on your pension contributions.
Combine your pensions
At PensionBee, we do things differently. There are no hidden service fees, platform fees, or any other kind of confusing fees - just one clear annual fee.
