State pensioners warned over retirement mistakes worth £20,000
A ntonia Medlicott, Founder and Managing Director of financial education specialists Investing Insiders, has led the warnings.She says among the mistakes is w ithdrawing the full tax-free allowance needlessly. She said: “You can withdraw up to a quarter of your private pension pot tax-free from the age of 55, rising to 57 in April 2028, but by taking the full 25% tax-free immediately, this will mean a heftier tax bill throughout your whole retirement. The pension pot will also last for 20 years due to the extra growth, compared with 14 years for those who withdraw fully.
- ▪A ntonia Medlicott, Founder and Managing Director of financial education specialists Investing Insiders, has led the warnings.She says among the mistakes is w ithdrawing the full tax-free allowance needlessly.
- ▪She said: “You can withdraw up to a quarter of your private pension pot tax-free from the age of 55, rising to 57 in April 2028, but by taking the full 25% tax-free immediately, this will mean a heftier tax bill throughout your whole retire
- ▪The pension pot will also last for 20 years due to the extra growth, compared with 14 years for those who withdraw fully.
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State pensioners warned over retirement mistakes worth £20,000A ntonia Medlicott, Founder and Managing Director of financial education specialists Investing Insiders, has led the warnings.NewsJames Rodger Content Editor18:32, 25 Jul 2026View ImageState pensioners warned over retirement mistakes worth £20,000The £20,000 retirement mistakes pensioners don't even realise they're making have been revealed by experts. A ntonia Medlicott, Founder and Managing Director of financial education specialists Investing Insiders, has led the warnings.She says among the mistakes is w ithdrawing the full tax-free allowance needlessly.
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