Savers recoup over £38m in overpaid pensions tax in Q4 2023

Analysis finds total amount of overpaid tax paid out since 2015 is approaching £1.2bn

Martin Richmond
clock • 2 min read
Savers recoup over £38m in overpaid pensions tax in Q4 2023

HM Revenue and Customs (HMRC) repaid over £38m to savers due to over taxation on pension withdrawals in the fourth quarter of 2023, latest figures show.

It its January pension schemes newsletter, HMRC revealed a total of £38,784,733 was repaid in the three month period from 1 October to 31 December 2023, and the average reclaim amounted to £3,216, ...

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