In Brief: Do you need to take action to avoid risking additional tax charges in retirement? #RetirementReady
Monday, 30 August 2021
There is a limit to the amount of money you can build up in pensions over your lifetime without triggering a tax charge when you access your retirement pot. Several scenarios can trigger a Lifetime Allowance test, and lead to a possible tax charge, including taking money out of your pension, transferring your pension overseas, or turning 75 without having taken benefits from your pensions.
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