From the age of 60, you can withdraw money from your retirement savings. “In any case, at that age you pay the 8 percent tax“, says Pironet.” It’s not nice that you pay that amount, but it doesn’t exceed the nice tax advantage you’ve received all those years. “
But just because you can withdraw the money doesn’t mean you have to withdraw it. “I don’t recommend withdrawing money now if it’s not necessary, “says Pironet.” If you fear that the stock markets may do even worse in the next few years, you can decide to take your money away. But the economy is also recovering and it is cheaper to withdraw the money within a few years. “
You can make additional deposits up to the year you turn 64, after which time no more and then the tax benefit also ends.
