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Pension Lump Sum

Answer
Freddie George
Posted Wed, 06 Nov 2024 15:29:56 GMT by Freddie George
I have a certificate of enhanced protection which due to the size of my pension "pot" should entitle me to a pension commencement lump sum in excess of £375,000 . However the trustees who are A.J. Bell are saying that HMRC have said that they cannot allow me to access a PCLS in excess of £375,000. Is this correct? and if yes why?
Answer
HMRC Admin 34 Response
Posted Tue, 12 Nov 2024 10:47:44 GMT by HMRC Admin 34 Response
Hi,
To ensure you meet the conditions please refer to guidance at:
PTM176310 - Lump sum and lump sum and death benefit allowance: Enhanced protection
Thank you

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