I’ve transferred a pension pot into your scheme, does a certain amount of time need to pass before I can take a small pot lump sum?

If the transfer was over 5 years ago, we can pay the lump sum. If the transfer to us was in the last 5 years, we apply HM Revenue & Custom’s ‘all schemes provisions’ rules, which allow a small pot lump sum to be paid if the total value of your entitlement under the scheme and any related scheme (a registered pension scheme that is an occupational pension scheme relating to the same employment) doesn’t exceed £10,000. If you don’t have any other pension schemes with your employer, a small pot lump sum can be paid if it’s under £10,000.

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