Lump Sum

Lump Sum – Pensionfinder









Pension Advice Pages

Make an enquiry

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

ong> and 10000000.

Please enter the total value of your pension. If your enquiry relates to a new pension enter your desired annual contributions
  • About you

  • Sticker

  • Next

  • Your Address

  • Contact Details

  •  

    0

    Lump Sum

    This is a tax-free cash payment made to a member of a pension scheme when they retire and start to take their pension benefits. With a money purchase scheme this can be up to 25% of the total fund, with the remainder used to buy an annuity. Members of final salary pension scheme s can usually also take part of their pension benefits as a tax free lump sum in return for a reduction in their pensions in payment. HMRC rules prevent this from being more than 1.5 times the member’s final salary or 2.25 times their pension.