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 the savings in your policy are £10,000 or under, you may be able to take them as a Small Cash Lump Sum. Normally you will be entitled to 25% tax free.

The balance is taxable and will be treated as income. In making payment to you, Basic Rate tax of 20% will be deducted by Equitable, but ultimately you will be taxed at your marginal rate.

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