Retirement tax planning

Tax does not disappear once you start the retirement process. While your income is likely to fall when you cease work completely, you will still have an income tax liability if your pension and other incomes exceed your available allowances. This guide looks at the basic treatment of lump sums, income payments and death benefits from the main types of pension arrangement. It is by no means the complete picture and you should seek professional advice if you have any questions about your personal situation.