I've been wondering how to go around KRA in the future. If my pension is in a registered retirement vehicle, my contributions are tax deductible and my investment earnings are tax exempt. Is the tax exemption deferred to when I retire? For example, I have a lumpsum of 5M which I withdraw from my registered retirement at age 65, and invest this pension money in a fund that earns me 10%, will those earnings be taxed? If so, is there a way around this?