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Taking cash from your Investment Builder pot

We know that it’s important for you to have options when it comes to accessing your retirement savings

You can now treat your Investment Builder pot a little like a bank account and access your savings as and when you need them, anytime from age 55 (rising to 57 in 2028).

Select each below for information


A member has an Investment Builder pot of £12,000 and wants to take the whole amount as a cash payment:
Amount requested: £12,000
Tax-free cash (25%): £3,000
Cash subject to tax: £9,000
Emergency tax payable on £9,000: £2,630
Total payment received after tax: £3,000 + (£9,000 - £2,630) = £9,370

What about the MPAA?

A member aged 57 has taken a cash payment and is subject to the MPAA. Their salary is £82,000, so they’re over the salary threshold and paying into the Investment Builder.

Their total member and employer contributions to the Investment Builder each year will be around £5,000.

They will have exceeded their MPAA by £1,000, so a tax charge is due. Unused allowance from previous years cannot be used to cover this charge.

Unless the member’s salary falls, or they apply a voluntary salary cap, the member is likely to breach the MPAA every year up to retirement, and will need to pay a tax charge each year.

Please note: these examples are based on 2018/19 tax rates.

How to apply

You can read our factsheet about the various ways to take your DC savings, and our factsheet on cash payments, which provides more information on tax implications, eligibility and other considerations.

If, after reading these, you think a cash payment is right for you, you can download our application form.

Blue info iconYou must think carefully before taking cash payments – the tax implications could have a huge effect on your future DC savings. Make sure you read our factsheet for all of the information. You should also seek financial advice if you aren’t sure whether this is right for you.


*Future investments can go up as well as down.

For a glossary of our terms please see more information on our key names and important information page.

Published: 16 January 2019