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I have three pensions, can I take a maximum lump sum from each of them without incuring penalties

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If you are over 55, you can take 25% out of each one (assuming that they are money purchase) without any tax being deducted. You referred to penalties rather than tax. That is a matter between you and the providers in respect of policy terms. If they are small then there could be more cash available. If they are Final Salary then the amount of cash is dependent on the rules. Mike



D57 The answer is as always yes and no. There is no tax penalties. Depending on the types of pensions you have, taking the 25% could cost you dearly depending on age and health. I know that it may be boring but you need to have a clear understanding of the rules and conditions of each pension. Once you have this then you should try the Motley Full UK boards to ask your questions. The consenus is always to take the lump sum, in many cases its the last thing. Remember there is always an agenda that is not in your interests. Cheers