Accessing your money
I’ve a protected pension commencement lump sum (PCLS) which means I can take more than 25% of my pot as tax-free cash. What happens if I take this as a flexible lump sum?
If you use your savings for a flexible lump sum payment (UFPLS) with us: You’d lose this higher entitlement as …
Are there charges for withdrawing my pension savings?
No. We don’t charge if you decide to access your pension pot. To get the most from your pension when …
My partner has died, when will I receive his/her death benefits?
We can’t put a timescale on processing death claims as each claim is viewed on an individual basis. This depends …
Where can I find a beneficiary form?
You can download a beneficiary form. You’ll need to fill it in and send to: Freepost THE PEOPLES PENSION Manor …
What happens when I reach retirement age?
We’ll write to you 6 months before you reach your selected retirement age. Our pack will explain what options you …
What documents do you need to prove my bank account?
Anti-money laundering requirements mean that we require evidence of your bank account ie a copy of a bank statement (PDF …
Can I cash in my pension pot?
Yes, your normal minimum pension age, you can take your whole pension pot and use it however you want. However …
Where does my pension go if I die before I retire?
You can make sure your loved ones and/or a favourite charity receives your retirement savings if you die before you …
How much tax will I pay on my pension?
If you choose to withdraw some or all of your pension fund as a lump sum, the first 25% will …
Is there an age limit for accessing my pension pot?
There’s no deadline by which you have to make a decision. You can leave your pension pot invested and make …