Also, consider the possible income tax scenarios, taking pension earlier versus later.
The lump sum element of your pension will be tax-free and the balance will be assessable for Income Tax, along with whatever other income you have.
Pension income is assessable for Income Tax but if you're below the exemption threshold and your pension income doesn't push you over the threshold, pension income will be tax-free.
As monagt so rightly points out above - "under current legislation".
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