FAQs
Find answers to commonly asked questions by members, employers and advisers in this knowledge base.
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"If I’ve nominated my children and they’re under 18. When I die, how will you pay out my death benefits?"
If your beneficiaries are under the age of 18 (known as minors), the lump sum will be held in trust until they come of age (we’ll require a copy of their birth certificates).
"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.
"Where do I send my pension claim form?"
If you have a vulnerability or disability which stops you from being able to request to take your pension money online, you can contact us to ask about the best way to access your money.
"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.