How to get the most out of pension tax advantages
By Cristian Angeloni, 3 Feb 22
Personal finance experts share 10 tips savers should be aware of
Tax-free access
![Tax-free access]()
“The major drawback of pensions for some savers is that the money is locked away once committed,” Lowery said.
“But up to 25% of your pot can be accessed tax free – with the remaining 75% available as taxable income – from private pension access age. That is currently 55, but set to rise to 57 from 2028.
“This is certainly not to say that this is the right thing to do. But for savers aged 50 and over, the limits on access become less meaningful compared to the money benefits of saving into a pension.”
Tags: Pension
