Question about tax on pension from previous employer

H

Harry2023

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Hi, I'd be very grateful if someone could offer advice on the follwing.
I was made redundant from a previous employer in 2014. I took a sum of approximately €45000 and waived my right to a future tax free lump sum. I have a pension from that employer of €70000. As I am now in my fifties, how much of that pension can I cash in? Does the waiver last for the lifetime of the pension? At what rate will I pay tax on it.

Thank in advance
 
Last edited:
You waived your right to a tax-free lump sum in 2014, so you can not get a tax-free lump sum. Depending on the type of pension you are talking about, you may be able to start drawing it down now. Any payments would be added to your other income or incomes, and taxed as normal
 
Thanks jpd. So it does last for the lifetime of that particular pension? I have another pension in my current job and assume that is completely separate?
 
Yes, each pension is separate - there is a lifetime max of € 200,000, with a few exceptions
 
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