Taxation of Savings Pot Withdrawals

A benefit payable from your Savings Pot is taxed at your marginal tax rate (except on retirement or death, when it as taxed as a Retirement Benefit).  In addition, if you withdraw from your Savings Pot while you are still a member of the UCTRF, you will pay an administration fee based on the amount of your withdrawal.

Important: Because a withdrawal from your Savings Pot increases your annual income, it may push you into a higher tax bracket.

To calculate how much of your lump sum  benefit will be tax free , as well as the administration fee payable, use the UCTRF Benefit Taxation Calculator.



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