Charlene Young: Can a client get their pension contributions back?

Ahead of self-assessment deadline

clock • 3 min read

Once money has been contributed to a pension, it cannot usually be withdrawn until retirement or earlier death or illness. But as Charlene Young explains there are a few exceptions to the rule...

As the self-assessment deadline looms, we inevitably see an uptick in the number of queries about refunding pension contributions. However, once money has been contributed to a pension, it cannot usually be withdrawn until retirement or earlier death or illness. So, do the pension rules allow refunds at all? The return of pension contributions is permitted in three limited circumstances: Refunds under the "excess contribution condition" Return of funds that were never intended to be a contribution or where the member was not entitled to a contribution Short service refunds (for ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Farming families must be proactive on advice ahead of APR/BPR change

Farming families must be proactive on advice ahead of APR/BPR change

‘The difficult conversations need to happen now’

Sahar Nazir
clock 03 April 2025 • 6 min read
Business' tax year planning – a reminder on carry forward

Business' tax year planning – a reminder on carry forward

'The carry forward rules can be difficult to navigate'

Caitlin Southall
clock 31 March 2025 • 4 min read
Tax year-end/tax year-start: Unfounded fears and enormous upside

Tax year-end/tax year-start: Unfounded fears and enormous upside

'Clients are tuned in to tax efficiency'

Phillip Wickenden
clock 27 March 2025 • 5 min read