Money Lesson Couple

Draw from both, always

You both stopped work last year with a pension pot each, and it feels simplest to take the money out of the bigger one and leave the smaller alone. Two people have two tax-free allowances between them, so what does using only one of them cost?

Savings Account Property Expenses

Draw from both

2 Goals

Let the app take the household's money from whichever pension is cheaper to draw from this month.

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Savings Account Property Expenses

Draw from one

2 Goals

Fund the household out of the bigger pension and hold the smaller one back, touching it only if the money would otherwise run out.

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Draw from both Draw from one

Drawing from both pensions instead of one uses two tax-free allowances instead of one and leaves this household ~£59.7k better off in today's money.