Have Tax Questions? Ask a Tax Expert for Answers ASAP
I am an expert with JustAnswer and I am happy to assist you with your question. Please kindly clarify which country you are resi in and where is the pension.?
Thank you in advance
Hello After reviewing your question, you can take a cash lump sum payment.
When you take money from your pension pot, 25% is tax free. You pay Income Tax on the other 75%. Your tax-free amount doesn't use up any of your Personal Allowance – the amount of income you don't have to pay tax on.
Please kindly feel free to ask if you need me to clarify my answer.