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Small pot lump sums

I’ve transferred a pension pot into your scheme, does a certain amount of time need to pass before I can claim a small pot lump sum?

  If the transfer was over five years ago we can pay the claim. If the transfer to us was …

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Can I claim my pension pot tax free if I’m a non-taxpayer?

  You have the option to take 25% of the pension pot as tax-free cash. The remainder is added to …

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What’s a trivial lump sum payment?

  A trivial lump sum payment is where the pension provider is able to pay your entire pension pot (not exceeding …

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I’ve confirmed on your claim form 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 (or connected to a controlling director) of an employer using The People’s Pension …

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I’ve only got £200 in my pension pot, how do I cash it in?

  Provided you’re aged 55 or over, you can do this by:   completing the risk questions on a paper …

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If I take a small pot lump sum, would my annual allowance reduce?

  No, your annual allowance will remain at £40,000.

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If I take a small pot lump sum, am I charged?

  No, we won’t charge you if you take a small pot lump sum.

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Can I make a small pot lump sum claim if I still work for my employer?

  Yes, your employer will need to inform us they won’t make any further contributions for you.  You must have …

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Can I make a small pot lump sum claim if I’ve left my employer?

  If your employer has provided us with a leave date we can process the claim. If not, we’ll need …

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What happens if I want to claim a small pot lump sum but further contributions are still to be paid by my employer?

  We’re unable to process the claim if further contributions are due to be paid.

View full answer >>
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Small pot lump sums

I’ve transferred a pension pot into your scheme, does a certain amount of time need to pass before I can claim a small pot lump sum?

  If the transfer was over five years ago we can pay the claim. If the transfer to us was …

View full answer >>

Can I claim my pension pot tax free if I’m a non-taxpayer?

  You have the option to take 25% of the pension pot as tax-free cash. The remainder is added to …

View full answer >>

What’s a trivial lump sum payment?

  A trivial lump sum payment is where the pension provider is able to pay your entire pension pot (not exceeding …

View full answer >>

I’ve confirmed on your claim form 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 (or connected to a controlling director) of an employer using The People’s Pension …

View full answer >>

I’ve only got £200 in my pension pot, how do I cash it in?

  Provided you’re aged 55 or over, you can do this by:   completing the risk questions on a paper …

View full answer >>

If I take a small pot lump sum, would my annual allowance reduce?

  No, your annual allowance will remain at £40,000.

View full answer >>

If I take a small pot lump sum, am I charged?

  No, we won’t charge you if you take a small pot lump sum.

View full answer >>

Can I make a small pot lump sum claim if I still work for my employer?

  Yes, your employer will need to inform us they won’t make any further contributions for you.  You must have …

View full answer >>

Can I make a small pot lump sum claim if I’ve left my employer?

  If your employer has provided us with a leave date we can process the claim. If not, we’ll need …

View full answer >>

What happens if I want to claim a small pot lump sum but further contributions are still to be paid by my employer?

  We’re unable to process the claim if further contributions are due to be paid.

View full answer >>