The Lemon Fool

Posted: **January 29th, 2024, 12:27 pm**

The telegraph had an headline at the weekend about a pensions loophole allowing savers to take double the cash-free amount of 500k.

I imagine any such loophole won't be around for very long... but curious if anyone can explain what the loophole was as the article was behind their firewall so I never got to the juicy details

https://www.telegraph.co.uk/money/pensions/pension-loophole-savers-paying-tax/

Posted: **January 29th, 2024, 12:32 pm**

This let me in. https://uk.finance.yahoo.com/news/pensi ... 19783.html

It's based on the 25% tax free and having a special overseas pension too.

Current pension rules dictate that savers can take a quarter of the value of their pension as a lump sum without paying any tax, up to a limit of £268,275.
But the changes in the bill will effectively double up this allowance for very wealthy savers who already have pensions overseas, or for those who are able to move a portion of their savings abroad.

The Lemon Fool

Telegraph article - pensions cash-free amount loophole

Telegraph article - pensions cash-free amount loophole

Re: Telegraph article - pensions cash-free amount loophole