How do I take my pension savings as a small pot lump sum?

Because of the coronavirus outbreak, The Financial Conduct Authority has put together some important information on their website. We’d recommend you read this before making any decisions at the moment.

If you’re over 55 (proposed to increase to 57 from 2028), and have £10,000 or less saved in your pension pot when you choose to access it, you may be able to take it as a ‘small pot lump sum’.

Before you’re able to take your money, all contributions into your pension pot must have stopped. You’ll need to let your employer know you’d like to leave the pension scheme before you start claiming your pension. Find out more if you think contributions are still being paid by your employer

Find out more about taking your pot all in one go as a small pot lump sum

When you’ve decided how you want to take your savings and you’re ready, find out how to take your pension money.

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