Tom McPhail Quotations

Once you have taken your tax-free lump sum, the remaining 75 per cent of your fund will be treated differently on death. If you die before you take your cash, your pension fund passes to your dependants as a lump sum subject to income tax on death. But if you die after taking the 25 per cent cash, the remaining 75 per cent in your pension fund would only be accessible as a lump sum subject to 35 per cent tax or as a regular tax-free income through an annuity.

We are back to the traditional assets like pooled investment funds, deposits and so on.