Hi,
Does anyone know if this is true?
…
If you are at an age when you can cash in some of your pension then the first 25% will be tax free and anything after that will be at 40% tax?
My new solicitor has told me this as my stbx has cashed in some of his pension and his figures are proving that my stbx’s pension value is a lot more than what myself and my previous solicitor group were told. They have also not provided a CTV?? of his pension whereas I did.
Has anyone heard of this as the amount he has cashed in (if 25%) indicates his pension is of higher value than what we thought. He is basing his guess on the fact that he wouldn’t pay 40% tax on anything over the 25%. New solicitor seems a
lot more switched on and has demanded a full pension breakdown and proof.