Tax Ready Reckoner


You can take all of your pension fund savings in defined contribution schemes as cash. However, you should be aware of the tax consequences before you decide.


Simply enter your total pension savings and any other taxable income you receive and we'll estimate how much tax you'd pay in total if you took 100% of your pension savings in one year.


Total pension fund savings
Other annual income received in the tax year 2018/19
Total gross income
Max tax-free cash lump sum (1)
Remaining income
Total tax payable (2)
Net total income (inc. tax-free cash) (3)
Marginal rate (4)



  1. This is calculated at 25% of your total pension fund savings.
  2. The tax is based on your total income, not just your pension fund savings.
  3. This is the total amount you should receive, after tax, and includes not just
    your pension fund savings but also your other income.
  4. Your marginal tax rate is the amount of tax imposed on the last pound of income.
  5. Please note that these figures have been calculated on tax rates and allowances for 2018-19.
  6. The personal allowance used in this ready reckoner is assumed to be £11,850.
    The allowance is reduced by £1 for every £2 earned over £100,000.
    All income, above the personal allowance, is assumed to be taxable at the following rates:
           £0-£34,500:   20%
           £34,501-£150000:   40%
           £150000+:   45%
  7. You should not assume that your pension provider will deduct the correct amount of tax and that you will be responsible for making any underpayment or claiming any overpayment of tax from HMRC.
  8. Rates of income tax are different in Scotland. This calculator does not take into account Scottish tax rates and allowances.

Tempted to take 100% cash?

Try our tax calculator first


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