The amount you can draw from a pension at retirement without incurring additional tax – set at £1,073,100 for 2020/21, though rising with consumer price inflation.

If you draw benefits in excess of this amount you will face an additional lifetime allowance ‘charge’; this is either a total tax of 55% if the excess amount is taken as a lump sum, or 25% on top of regular income tax if taken as a regular income (annuity or income drawdown).

See also our retirement planning and tax benefits of a pension blog posts.

‍

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.