How will you spend your private pension lump sum?

If you’re 55 or over on 6th April 2015, you can withdraw 25% of your private pension as a lump sum, tax free. Have you thought what you might do with your nest egg?

Choose one of our top 10 suggestions or tell us what else you have planned.

Go on the holiday of a lifetime
0%
Buy a new car
0%
Pay off the mortgage
0%
Give it to my grandchildren for their education/deposit for a property
0%
Help my children with a special purchase (like a car)
0%
Invest it to generate income
0%
Use it for a deposit on a property in the sun
0%
Leave my job and start the business I always dreamt of
0%
Use it to backpack around the world until the money runs out
0%
Update your kitchen or bathroom?
0%
Plastic surgery
0%
Based on 348 public votes.

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dotdot
7th May 2015
0
Thanks for voting!
I shall use it to get some odd jobs done around the home and give some to my sons and have a meal out with my family. 🙂
sparrer
17th Apr 2015
0
Thanks for voting!
Difficult, so much I want to do. The children would benefit of course, then my holiday of a lifetime to NZ (friends there waiting for me), invest a sensible amount and finally give to a charity which is dear to me.
redskins
3rd Apr 2015
2
Thanks for voting!
Unless you really have to don't do it you will only feed the money men who got us in this mess so you take a loss and when is the investment side going to pick up nice one Mr Taxman
AnnCScott
3rd Apr 2015
2
Thanks for voting!
I'm a bit addicted to cruising so it would have to be a world cruise for me. I'd get to see all the places on my bucket list in one go and I would cherish the memories and photos forever.
Barry14
31st Mar 2015
1
Thanks for voting!
A Mixture - It will become "rainy day" money - some invested for future use - A dream holiday to Canada (hopefully) - some home updates and in a year or two an updated car.
pal23r
30th Mar 2015
3
Thanks for voting!
Regrettably it will have to go towards home maintenance 🙁
Peter
30th Mar 2015
3
Thanks for voting!
If I had a lump sum I'd spend it on travel. Great experiences stay with you forever - long after the flash new car rusts on a scrap heap!
leafytree
28th Mar 2015
4
Thanks for voting!
Afraid I've only got State Pension, worked all my life and brought up 2 children. If I had a lump sum I would go on a spiritual retreat.
Baxi
28th Mar 2015
3
Thanks for voting!
I agree with Wilf, I don't understand how Annuities work - I only remember that friends lost a lot of money on mortgages linked to Annuities. I think I'll take my 25% tax free and try to get a better interest rate somewhere.
Wilf
27th Mar 2015
4
Thanks for voting!
Would like to give my kids who are in their 20s a deposit for a house but I am afraid that is not going to happen unless I win the lottery. Think its a good idea though with the new pension reforms. I never did trust the annuity set up...come to think of it I didn't understand it-clear as mud
Archiebald
27th Mar 2015
5
Thanks for voting!
I would probably buy a new car. My current one is a total heap and it would be nice to go faster than 60mph on motorways! I wouldn't have enough in my pension pot to sort out plastic surgery I am afraid...far too much work required!!!!

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