People in work pensions are to be given a new tax-efficient option to take lump sums out of their savings pots when they wish as they approach retirement. Each lump sum you take will be 25 per cent tax-free, and 75 per cent taxed at your marginal rate - and you won't have to enter an income drawdown scheme or buy an annuity, but can simply stay invested in your existing pension scheme. ...read
Savers handed new tax-efficient way to get at their pension pots as officials flesh out upcoming retirement freedoms
![Want to stay put? New option gives people a tax-efficient way to remain in their existing work pension scheme while they decide a longer-term plan](http://web.archive.org./web/20170108230915im_/http://i.dailymail.co.uk/i/pix/2014/08/06/article-2718090-204F3C6400000578-15_308x185.jpg)