Accessing your money
Can I access my pension pot tax free if I’m a non-taxpayer?
You have the option to take usually 25% of the pension pot as tax-free cash. The remainder is added to …
I’ve transferred a pension pot into your scheme, does a certain amount of time need to pass before I can take a small pot lump sum?
If the transfer was over 5 years ago, we can pay the lump sum. If the transfer to us was …
I’ve only got £200 in my pension pot – how do I cash it in?
If you’re over your normal minimum pension age, and have £10,000 or less saved in your pension pot when you …
I’ve confirmed on your claim form that I’m a controlling director of an employer using The People’s Pension, or connected to such a person. Can I claim a small cash lump sum?
Anyone who is a controlling director of an employer using The People’s Pension, or connected to a controlling director (such …
My employer has gone into administration, can I take a small pot lump sum?
Under HM Revenue & Customs (HMRC) rules, no benefits can remain in an occupational pension scheme (such as The People’s …
If I die and haven’t completed a beneficiary form, what would happen to my pot?
It helps the Trustee if you nominate a beneficiary as they’ll know who you’d like to be considered for payment …
How do I nominate a beneficiary?
It’s simple to do. Just log in to your online account and fill in the details. And if your circumstances …
Are there any time limits that death lump sum benefits need to be distributed by?
There are no time limits as such. However, if you die before age 75, HM Revenue & Customs state that …
Is tax payable on a death claim?
If you die before you’re 75, your beneficiaries can normally receive your pension savings as a tax-free lump sum, as …
I was going to claim a small pot lump sum but the fund value has just gone over £10,000. What can I do?
Under the rules, a small pot lump sum must be £10,000 or less. If it’s over £10,000, you could take …