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Cash Option
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Example |
At retirement you may take part of your Member Account as a tax-free cash sum.
The tax-free lump sum is limited to 25% of the value of your Member Account, or 25% of the Lifetime Allowance if lower.
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Your Member Account value is
£100,000.
Your cash sum is
25% x £100,000 =
£25,000. |
Note
You will not be able to take as much as 25% of the value of your Member Account as a cash sum, if the residual pension is less than your Guaranteed Minimum Pension (more details)
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