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Can anyone help? I am very lucky in that whilst browsing the news recently I saw about 2015 pension changes and that from next April (I will be 58) I can take any pension as a lump sum and not buy an annuity unless I want to. I had forgotten all about some pensions I started in the 1970's and have had a good dig around and am very happy that I have a 'forgotten'; pension pot of over £90,000 in two RAC's. I do not need to generate an income for my old age as I have some property investments which provide an adequate living. My questions are Will I be able to do what I think I can do even though RACs were originally set to a retirement age of 60? From what I've seen 25% of any pot is tax free and the balance is at marginal tax rate - mine is currently 20% - but let's say my income at present is £25000, if I took EVERYTHING out at once then I could get £22500 tax free and pay 20% tax on the £67500? Or would I need to draw it out bit by bit to keep it under the 40% tax rate in any one year? I'm sure these questions will bring up others I haven't considered, and hopefully this is in the correct part of the site, if not, mods please move! Thanks in advance for all help. Bob
