Advice needed on pension as I currently don't work and have no income.

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Packmanuk

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I currently don't work and have no income. I have the following question.

Pension pot of £24,000

I understand I can take out 25% tax free so in this case £6000

If I then take out a further £10000 from the pot would I pay any tax on this amount ?

I have no income currently so am I right in thinking that I will pay no tax as my income (£10000 taken from pension pot) leaves me below the tax bracket ?
 
Packmanuk said:
If I then take out a further £10000 from the pot would I pay any tax on this amount ?
Click to expand...
20%.

Report - Pension SFT increase coming

It is a positive move. Someone on €130,000, retiring at 60 on €65,000 pension and 1.5 lump sum gets hit with a €58,000 tax bill. While they had decent earnings and a good pension, I don't think they would be consider high earners. Salaries have increased substantially since 2014 and the...
www.askaboutmoney.com
Unless you can avail of this option:

Trivial Pensions

Hi there, I was hoping for some clarity on Trivial Pensions that the revenue tax manual doesn't seem to answer. I have two small pensions with two different companies that I want to tidy up now I'm over 50. They are two separate companies with no linkages, each had separate employments re...
www.askaboutmoney.com
Are your figures supposed to be in £ or should they be €?
Are you Irish/in Ireland?
This is an Irish site and my answer is predicated on this being an Irish pension question.
 
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