I have retired a few years early due to ill health.
I have just about enough in savings to scrape by until the state pension kicks in. I also have a small DB pension (about £8k a year) and a moderate private pension pot. Long term I hope to survive mainly on the state + DB pension, and draw down the private pension as and when needed (house repairs etc).
Up until I retire, I will have no income. Does it make sense for me to draw money out of my private pension each year and use that ratherthan savings? So as to take advantage of my unused personal allowance over the next few years?
I understand that I can draw 25% tax free. Would I need to do that first, or could I withdraw money taxed no