My pension pot has fallen below £10,000 – can I still take a flexible lump sum?

No, taking a flexible lump sum won’t be an option if your pot is under £10,000 unless you have designated previously to flexi-access drawdown or taken a UFPLS.  If you extinguish both your monies in both flexi-access drawdown and in non-flexi access drawdown your account will be closed (if only one is extinguished, the account remains open). Once your account is closed, any further payments will go into a new account, which will have to be more than £10,000 before you can take a flexible lump sum.

However you may be able to take as a small pot lump sum instead.


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