FAQs
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"Are there any restrictions on taking a tax-free lump sum with us?"
Find out more about taking your tax-free lump sum with People’s Pension.
"Are there charges for withdrawing my pension savings?"
No. We don’t charge if you decide to access your pension.
"What happens to my pension savings if I die?"
You can make sure your loved ones and/or a favourite charity receives your pension savings if you die before you take them.
"When and how will I receive my joiner information?"
All new members of People’s Pension receive joiner information. Your joiner information will be sent to you by email.
"How do I take my pension savings as a small pot lump sum?"
If you’re over your normal minimum pension age, and have £10,000 or less saved in your pension when you choose to access it, you may be able to take it as a ‘small pot lump sum’.
"I’ve only got £200 in my pension – 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 when you choose to access it, you may be able to take it as a ‘small pot lump sum’.
"My partner has died, when will I receive their death benefits?"
We can’t put a timescale on processing death claims as each claim is viewed on an individual basis.
"Can details of my pension be disclosed to a third party?"
Details of your pension can only be given to a third party (independent financial adviser, spouse etc) where you’ve given your authority.
"Why are my projected savings lower than my current pension value?"
Your projected pension savings at retirement depends on factors such as annual contribution increases, inflation and how and when you access your pension savings.