If you’re withdrawing the 25% tax-free lump sum from your pension, you can simply calculate 25% of your pot value, as no tax will be deducted—meaning you’ll know the exact amount upfront.
For any other withdrawal amount, the final sum you receive will only be confirmed shortly before your payment is processed. This is because withdrawals beyond the tax-free portion are subject to tax, which is calculated based on your individual tax code.
We use the most up-to-date tax code provided by HMRC at the time of processing your withdrawal.