Hi.
As we all know, soon you will be able to cash in your pension entirely, and spend the money on whatever you want.
The kicker is, you, as a UK taxpayer will be taxed on the money as if it was income. Therefore, if you are earning enough to be paying 40%, as most pilots are, you'll have to hand over 40% of the lolly to HMRC.
What if you are an expat, and not eligible to pay UK tax though?
Can you just drop the lot out your pension fund and stick it in your pocket, tax free?
No doubt you can't (nothing is ever that good), but what are the facts?