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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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?

Because of the coronavirus outbreak, The Financial Conduct Authority has put together some important information on their website. We’d recommend …

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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. Find out more about taking your pension …

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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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My employer has gone into administration, can I claim a small pot lump sum?

  Under HM Revenue & Customs (HMRC) rules, no benefits can remain in an occupational pension scheme (such as The …

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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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