There are certain circumstances where we can accept this and protect your enhanced tax-free cash entitlement eg buddy transfers. However, there are circumstances where you’ll lose this entitlement and you’ll only be able to claim 25% tax-free cash from your pot with The People’s Pension, including any funds transferred in. So you may wish to reconsider your request to transfer.
We aren’t authorised to give you any financial advice. If you’re in any doubt about whether transferring your pension is the right decision for you, please contact the administrator of your existing scheme, or, a financial adviser. Please note that a financial adviser is likely to charge you for their service.