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Tax-free lump sum

Decide to take your tax-free lump sum

How it works

  • You can take 25% of your pension savings as a tax-free lump sum when you join Smart Retire.

    From 6 April 2023, you can take up to £268,275 as a tax-free lump sum. This is 25% of the standard lifetime allowance of £1,073,100.

  • The rest is taxed at your personal tax rate.

  • Some people can take more the 25% tax free, but it's quite rare. If that's you, contact us to complete your application.

Apply in three simple steps

Discover how you could combine your retirement options with Smart Retire

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1. Build an
illustration

See how much you could get in retirement with a no-obligation illustration.

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2. Tell us about yourself

Complete our online application form.

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3. Start using Smart Retire

That’s it – you can now start using Smart Retire to manage your money.

Get started

We’re here to help

Have a question about Smart Retire? Our friendly UK-based team is here to help.

Simply send us a secure message using the Contact us button at the bottom of your screen and we'll reply as soon as possible.