Lump Sum Payments: Tax Allowances

Summary

To ask the Chancellor of the Exchequer, whether she plans to change the proportion of pensioners' tax-free lump sums that are exempt from tax.

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Timeline

1. 29 August 2025

   Written question

   To ask the Chancellor of the Exchequer, whether she plans to change the proportion of pensioners' tax-free lump sums that are exempt from tax.

   Source: Commons

2. 9 September 2025

   Answer

   The Government wishes to encourage pension saving to help ensure that people have funds to draw on throughout retirement. Up to 25 per cent of an individual’s pension can be taken-tax free, subject to a cap of £268,275 for most. Although the Government ke...

   Source: Written answer

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• · Treasury · Answering body

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