Pension drawdown question

[LeoSayer]

My understanding is that, under current rules I have 6 months to start a drawdown or annuity arrangement after drawing tax free cash from a DC pot.

If doing flexi-access drawdown, is there a minimum amount that I must drawdown?

The situation would be, for example, I have a pot of £100,000 of which I need the £25,000 tax-free cash at age 55. But don't want to take any taxable income from my pension until I'm 60.

Can I just take £1 per month from the remaining £75,000 pot from ages 55 to 60?

[Squiddly Diddly]

LeoSayer said:

My understanding is that, under current rules I have 6 months to start a drawdown or annuity arrangement after drawing tax free cash from a DC pot.

If doing flexi-access drawdown, is there a minimum amount that I must drawdown?

The situation would be, for example, I have a pot of £100,000 of which I need the £25,000 tax-free cash at age 55. But don't want to take any taxable income from my pension until I'm 60.

Can I just take £1 per month from the remaining £75,000 pot from ages 55 to 60?

You don't need to actually draw anything, you just need to designate the funds for drawdown.

It's an administration process.

[LeoSayer]

Well that's good news.

So, can I take the tax free lump sum at 55 and then continue contributing up the £40k annual allowance?

[Squiddly Diddly]

Yes, providing you do not receive any flexi-access pension or are caught by the tapered annual allowance.

You might get quizzed on recycling if you are withdrawing PCLS and then subsequently making a large contribution to the same pension arrangement where you have never done so before.

[LeoSayer]

Thanks.

Nice to know I can access the tax free cash whilst still working and contributing.