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flag UK retirees can request a tax-free pension allowance of £12,570, with refunds for overpayments issued.

flag HMRC has clarified pension tax rules, stating retirees can request their tax-free allowance to be applied to their pension income, currently set at £12,570. flag If overcharged, a refund will be issued. flag The tax-free allowance decreases for those earning over £100,000 annually. flag Pensioners can start withdrawing at 55, with the state pension age gradually rising to 67 and then 68. flag To qualify for the full state pension, one needs 35 years of National Insurance contributions.

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