Accessing your money
Are there any restrictions on taking a tax-free lump sum (flexi-access drawdown or UFPLS) with The People’s Pension?
There are a few things you need to consider when taking a flexible lump sum with The People’s Pension. When …
How does flexi-access drawdown work with The People’s Pension?
To access your pension savings via flexi-access drawdown, you must be 55 or over and have a minimum pension pot …
How do I access my pension pot online?
You can access your pension money online in your account. Once you’re logged in, you’ll see a summary table for …
What details do I need to know to take my pension pot online, and where can I find them?
When requesting to take your pension money online, you’ll need to answer a series of questions. You’ll also need to …
I’m not confident using a computer or don’t have access to a computer, how can I access my pension money?
If you don’t have a computer, you could request to take your pension money on a tablet or smartphone by …
Where will my pension savings be invested whilst in flexi-access drawdown?
We’ll use your selected retirement age and the same investment choice you made for your pension while building your pension …
Can I transfer my other pension savings into flexi-access drawdown with The People’s Pension?
You can transfer your other pension savings into The People’s Pension to be used for flexi-access drawdown if they are …
What happens to the money in my flexi-access drawdown account if I die?
You can nominate someone to be considered to receive your pension savings if you die – called your ‘beneficiary’. If …
How many lump sums can I take from my flexi-access drawdown account?
You can take one lump sum a tax month from your flexi-access drawdown account. For example, from 6 May to …
If I take a flexible lump sum, how am I taxed?
With this option you spread your tax-free cash across all withdrawals you take from your pension savings. Usually, 25% of …