Maximum cash lump sum
- When you take your pension you can give up some pension for a cash lump sum, which will be tax free, subject to the Lifetime Allowance. You must give up £1 of pension for each £12 lump sum that you take and there are limits on the amount of cash that you can take.
- Your statement illustrates the maximum amount of lump sum that you could take based on your projected pension at the ages shown.
- These maximum lump sums are in addition to the automatic lump sum for classic members of three times their initial pension and for the classic part of classic plus members' pension.
Return to Benefit Statement page
