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Withdrawals of up to 5% a year are allowed for up to 20 years without incurring an additional tax charge.
If you don’t use your 5% allowance in a given year, the allowance is carried over to the following year i.e. if you make no withdrawals in year one, you could draw up to 10% the following year without incurring a tax liability.
The capital sum may affect your benefits
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