Accessing your money

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 …

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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 with The People’s Pension …

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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 …

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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 …

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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 …

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How many lump sums can I take from my flexi-access drawdown account?

You can only take one withdrawal per tax month from your flexi-access drawdown account. No charges are currently applied for …

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If I take a flexible lump sum, how am I taxed?

There are 2 ways of taking your pension pot as a flexible lump sum. With both, you’ll get 25% of …

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Are there any restrictions on taking a flexible 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 …

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How much money can I take at a time from my flexi-access drawdown account?

You must take a minimum of £2,000 each time you take a lump sum from your flexi-access drawdown account with …

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What is flexi-access drawdown?

Flexi-access drawdown allows you to use your pension pot to provide flexible withdrawals. Using flexi-access drawdown you take 25% tax-free …

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