Are you in The People’s Pension and thinking about taking flexible drawdown? Here’s how it works — and what you need to watch for before you touch your pot 👇 #Pensions #pensionplan #retirementplan #financialeducation #workplace | Gardner Financial Management
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Pension Drawdown Thinking about taking money from your pension? Here’s the truth: £10,000 doesn’t always mean £10,000. With pension drawdown you can normally take 25% tax-free. The rest is taxed as income, which means: • With unused personal allowance you could keep the full £10,000 • As a basic-rate taxpayer you might keep around £8,500 • As a higher-rate taxpayer you could be left with as little as £7,000 👉 Drawdown gives you flexibility and control — your pot stays invested, and you can take
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