Funds left in UK
If you have deferred benefits in the UK they will either come from a personal pension or from an occupational pension scheme.
Both will entitle you to some tax free cash with the balance of the fund to be used to provide an income either via an annuity or via income withdrawal.
The maximum tax free cash that can be taken from a personal pension is 25% of that fund and the earliest date that you can normally draw benefits is age 50, soon to become 55.
If it suits, you can defer taking any income until age 75 at which time you will either have to take what is known as an alternatively secured pension or purchase an annuity. The most likely course of action will be to buy an annuity.
If you have funds in an occupational pension scheme you might be entitled to more than 25% of the fund as tax free cash.
All pension funds enjoy a tax favourable status, however, any income drawn is taxable.
