u/georgeb1971

I’m planning to pay off my £24k mortgage balance in December this year once I reach the age of 55 and take this amount out of my smallish personal pension fund of approx. £100k. I understand I can take 25% tax free so that’s the plan. I realise it may not be the best financial move but in my position of having 4 young kids at home and wife not currently working due to child care costs it will make a massive difference to our lives having the £450 monthly mortgage payment which we can use to build some savings and even afford an annual holiday. My question is what happens with the balance of my pension pot? Do i need to reinvest or will it remain in the same plan?