The latest Clay Shaw Butler Money Matters column from the Carmarthenshire Herald
The latest Clay Shaw Butler Money Matters column from the Carmarthenshire Herald. By Mark Jones, director of Carmarthen-based Clay Shaw Butler chartered accountants and business consultants. The importance of pensions is such that it is worth giving the issue plenty of prominence in this regular Herald Money Matters column. Over the last couple of weeks, we have discussed auto enrolment for employers and given some advice on watching out for pension scammers. This week, it is time to focus on what you can do with your pension pot. You can usually take 25% of your defined contribution pension pot tax free and then choose from a range of options. If you take 25% tax free, you must make a decision on the remaining 75% within six months - you can’t then leave it untouched. You have six options - Leave your whole pot untouched You don’t have to start taking money from your pension pot when you reach your ‘selected retirement age’. You can leave your money invested in your pot until you ne