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Pension lump sum withdrawal tax calculator

Calculate how much tax you'll pay when you withdraw a lump sum from your pension in the 2020-21, 2021-22 and 2022-23 tax years.

When you’re 55 or older you can withdraw some or all of your pension pot, even if you’re not yet ready to retire.

The first 25% of the withdrawal is tax-free; the remainder is taxed as extra income. To find out how this works in detail, you can read our guide 'Should I take a lump sum from my pension?'

This calculator will help you figure out how much income tax you'll pay on a lump sum this tax year. 

This calculator has been updated for the and 2022-23, 2021-22 and 2020-21 tax years. Use the 'Tax year' dropdown to select the one you want.