Return to Where do I go? TAX - THE FACTS
There are tax implications when you take your retirement savings as cash
Click on of the headings below for help:
If you take your savings as a Flexible Lump Sum, you will normally be entitled to 25% tax free.

The balance is taxable and will be treated as income. In making the first Flexible Lump Sum payment to you, Emergency Rate tax will be deducted by Equitable, but ultimately you will be taxed at your marginal rate.

For any subsequent Flexible Lump Sum payments, Equitable Life will apply the tax code supplied by HMRC. If no code has been supplied, Equitable Life will continue to deduct tax at the Emergency Rate.

Click here to establish whether you are eligible, under your policy, to take your savings as a Flexible Lump Sum.
 
If you want to find out more about how a lump sum will be taxed:
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