FAQs
Find answers to commonly asked questions by members, employers and advisers in this knowledge base.
Showing 4 of 31 results
"If I take a flexible lump sum, how am I taxed?"
With this option you spread your tax-free lump sum across all withdrawals you take from your pension savings.
"Will taking my pension affect my State Pension?"
Your State Pension is based on your National Insurance contribution history and is separate from any of your private pensions.
"What does ‘projected pension retirement value’ mean?"
Pensions are long-term savings and your projected pension retirement value depends on factors such as annual contributions, inflation and how and when you access your pension savings.
"What’s a small pot lump sum and how many of them can I take?"
If you have £10,000 or less in your pension and you want to take it all in one go – you may be able to take it as a ‘small pot lump sum’.