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Tax calculator

If you have a defined contribution pension and are considering taking all of your savings as cash it’s really important that you understand all of the benefits and considerations, in particular the tax implications.

There are different regulations around how your pension provider will initially apply tax, dependent on the size of your pension savings and whether you have received cash from any other pension savings previously. This may include being taxed using emergency rate. Our Tax Calculator has been designed to help you understand what you may receive from your Phoenix Life Individual Pension Policy if you took all your pension savings as a cash lump sum.