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flag UK retirees face hefty tax bills after withdrawing large pension sums, experts urge careful planning.

flag Over 221 UK retirees withdrew pensions of £250,000 or more, facing tax bills of at least £97,500 each. flag Standard Life warns of significant tax liabilities and urges retirees to consider multiple options like lump sums, annuities, or drawdowns before making decisions. flag Retirement savings director Mike Ambery stresses the importance of seeking detailed advice from providers or government resources to avoid costly mistakes.

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