Tax-Free Pension Lump Sum
How much of your pension you can take tax-free, and the two lifetime limits on tax-free lump sums that replaced the lifetime allowance.
Share of a pension you can take tax-free
25%
You can usually take up to this share of any pension as a tax-free lump sum, up to the lump sum allowance.
GOV.UK — HMRC · checked 10 Nov 2026
Lump sum allowance
£268,275
The most that can be taken as tax-free lump sums over your lifetime, unless you hold a protected allowance.
GOV.UK — HMRC · checked 10 Nov 2026
Lump sum and death benefit allowance
£1,073,100
The overall cap on tax-free lump sums in life and certain lump sums paid on death before 75.
GOV.UK — HMRC · checked 10 Nov 2026