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How to get money out of your pension: Avoid the tax trap, annuities, drawdown, the 25% tax-free lump sum & more

The Martin Lewis Podcast

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Optimizing Pension Funds for Mortgage Payment

This chapter explores the decision-making process of using the tax-free 25% sum from a pension fund to pay off a mortgage, advising listeners to assess their individual financial situations and seek professional advice before making a move. The speakers analyze the implications of accessing the tax-free lump sum, considering factors like investment opportunities, future pension contributions, and the potential benefits of using the sum to eliminate mortgage debt.

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