25% pension withdrawal

[JennyRay55]

I've reached 55 and have 4 pensions. 3 I don't contribute to them anymore. My current job is a workplace pension which has £55,000 in total, this is the active one. The others (inactive) amount to £45,000 in total. My question is can I withdraw 25% from all 4 pots tax free at 55 Or can i only withdraw from 1 pension?
Also how long do I have to decide if I want to withdraw?

Many thanks

You can withdraw up to 25% but bear in mind fees to do so. You can take as long as you like, and in the meantime the funds will remain invested.

Remember there are restrictions on continued contributions if you withdraw.

So if I take 25%. Big if at the minute. From each of the pensions I no longer contribute to I can still contribute to the active one? Then I can add the remaining pots to my active fund?

You can get free government advice on it, it's a government service. My husband had 3 pensions. He drew 25% from all 3 of them to put down as a property deposit 2 years ago. My recollection is you can take 25% from one pension at a time, leave others to grow. The fees were quite small, varied between providers. My recollection is my husband wasn't allowed to contribute any more as it would look like he took the money out in order to put it back in order to claim 20% tax refund on his pension contributions. It might be different if you are still working and your company contributes alongside your contribution and it's been a long standing arrangement. This bit I am not too sure about but from a logical point of view it should be OK. Financial advisors can tell you more however they are quite pricey.