- Alfie Baron
Anyone aged 55 or over can take out their full pension pot - but they have to pay tax on 75% of this.
The Tories have highlighted that Income Tax changes in Scotland could see Scots paying more than in the rest of the United Kingdom.
If a Scot withdraws a lump sum of £105,000 (the average pension pot size for those aged 55-65) they would have to pay an extra £527,
The Tories believe this could damage economic confidence in Scotland.
Scottish Conservative shadow finance secretary Murdo Fraser said:
The NAT Tax will hit Scots during their working life, and now we learn that it could hammer them when they retire too.SNP Finance Secretary, Derek Mackay thinks he has made Scotland the fairest taxed part of the United Kingdom.