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 …

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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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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 …

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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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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 can access your Online Account and request to take your pension money on …

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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 while building your 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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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 take one lump sum a tax month from your flexi-access drawdown account. For example, from 6 May to …

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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 …

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