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a sheet of white paper with the words 'STATE PENSION' typed on it, next to this is a glass jar of coins tipped onto its side, a few of the coins have fallen out onto the paper, a person is typing on a calculator at the right hand side.
Updated on 6 April 2024

National Insurance and the state pension

National insurance is very important for the purposes of claiming the state pension. On this page we look at the part National Insurance contributions play in your entitlement to this state benefit later in life.

7 wooden tiles spelling out the words 'TAX FREE', a calculator and a magnifying glass.
Updated on 6 April 2024

What pension income is tax-free?

Certain pension income is tax-free. This page gives an overview of tax-free UK pension income (or pension related income).

a small pile of old pound coins with a tiny pink pig sat on top.
Updated on 6 April 2024

Small pensions

Some small occupational pensions can be cashed in under what are called the ‘trivial commutation’ rules.Also, pensions with small values may, in some cases, be cashed in as a lump sum under different rules (the ‘small pots’ rules) than the flexible pensions rules. If you want to take money out of ...

a pad of paper with the word 'PENSION' written on it with red ink, a calculator and a pair of glasses.
Updated on 6 April 2024

Pensions flexibility

You may be able to draw money out of your defined contribution pension (also called a money purchase pension) very flexibly – as much as you like, when you like, once you have reached the necessary minimum pension age age. You have a great deal of control – but the rules are very complicated in ...

a burlap sack with the word 'PENSION' on the front, around the sack a fabric tape measure can be seen
Updated on 6 April 2024

Pension income: impact on state benefits

There are many things to think about when you start drawing a pension, as the additional income you receive can have a knock-on effect on other areas of your finances. 

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