In line with current rules you can normally take a maximum tax free pension commencement lump sum (PCLS) of 25% of your fund at the time you take your benefits, subject to the lifetime allowance or protected amount.
However, you need to take any PCLS before age 75 otherwise you will lose entitlement to it.
From 6 April 2006, where your plan was required to restrict the tax free lump sum to an amount less than 25% of the fund due to a transfer-in from an occupational pension scheme, any such restriction will be lifted.
Pension products such as Additional Voluntary Contribution plans which are currently unable to provide any PCLS will be able to do so subject to appropriate scheme rules being changed.
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Share dealing is administered by Hoodless Brennan as Account Manager and any additional pension investment outside equity dealing or administration for the pension is the responsibility of Capita SIP Services as Plan Administrator.
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