You tax dodger you!
How does it work with lump sums on retirement; are they taxable, and if they are, would you pay the forty percent if it was large enough?
Any road, I reckon your forty percent relief and twenty percent release is fair enough. Larger pensions mean more money for older folk to spend, with vat at 20% they're still getting some back and presumably there'd be some "benefits" you wouldn't be entitled to either.
Either way enjoy it!