Freddie George
Joined: 12/6/2023
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Pension Lump Sum
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? -
Pension certificate of enhance protection
I have a certificate of enhanced protection which states my tax free lump sum is 13%. I have not yet taken any benefits from my pension fund but would like to know if the lump sum which I can now take is 13% of the value of the fund today or is it 13% of the value of the fund on 6 April 2006. In both instances the amount would be in excess of the current lump sum allownace.