FAQs
Showing 9 of 160 results
"Can I transfer my pension savings with People’s Pension to NEST?"
You’ll need to check with NEST to see if they’re happy to accept the transfer as NEST have certain criteria on transferring in and out.
"How does a unit-linked policy work?"
With a unit-linked policy, any contributions paid in are used to buy units in the investment funds.
"Can I take a small pot lump sum if contributions are still being paid by my employer?"
"What happens to my pension savings if I’m suffering from ill health?"
If you’re suffering from ill health you may be able to access your pension savings earlier.
"How do I claim higher rate tax relief on my contributions?"
If your pension contributions have been deducted from net pay (after tax has been deducted) and you’re a higher rate taxpayer (eg paying 40% tax), you can claim your tax back in two ways.
"Can I take all my pension money as a lump sum, and what tax would I pay?"
Yes, usually from age 55, you can take your whole pension and use it in any way you want. However, there could be large tax implications and therefore it may be more tax efficient to take the money in stages, leaving the rest invested.
"I'm over 55. Can I take a lump sum from my pension savings to give to my children now?"
Yes – you can do this, but we recommend that you seek financial advice about any inheritance tax implications.
"How do I add or change my Direct Debit details?"
As an employer, to change your Direct Debit details, download and complete a new Direct Debit mandate. Log in to Employer Online Services and go to ‘view documents’.
"I’m getting divorced. What happens to my pension savings?"
We can either set up a pension account which will belong to your ex, or the pension credit can be transferred to another provider.