Pensions: Lump Sum Payments
(asked on 23rd February 2016) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many people have withdrawn more than the 25 per cent tax-free allowance from their pension fund as a lump sum since 2014.
This question was answered on 2nd March 2016
HM Revenue and Customs does not have information on all types of taxable pension payments taken since 2014. However, information on the taxable element of pension flexibility lump sums taken since April 2015 is collated and published quarterly. This also provides details of the number of people who have taken these payments. The publication can be found at https://www.gov.uk/government/statistics/flexible-payments-from-pensions.