Can you take small pension pots as a lump sum

[stephen500]

As the current DB scheme ends in 2018 and I plan to retire/resign in early 2021, can I take all of my small pension built up between 2018 and 2021 as a small lump sum.
I don't want to have to put any into an annuity, as it is a trivial sum.
I am guessing that as I will pay around £31 per week into the scheme, the whole pot would be worth about £4.5K at the end of this period.
Any thoughts?
https://www.pensionsadvisoryservice.org ... h-lump-sum" onclick="window.open(this.href);return false;

[RobertT]

As the current DB scheme ends in 2018 and I plan to retire/resign in early 2021, can I take all of my small pension built up between 2018 and 2021 as a small lump sum.
I don't want to have to put any into an annuity, as it is a trivial sum.
I am guessing that as I will pay around £31 per week into the scheme, the whole pot would be worth about £4.5K at the end of this period.
Any thoughts?

If the DC scheme is adopted, then you will also get a contribution off RM. So you’ll also get another 10% or more into the pot. Based on your figures that might be around another £51 per week (assuming 10%). So a figure closer to £12,000 in total contributions is more realistic.

You could take this as a lump sum if you wish to, with the first 25% being tax free and the rest counting as income and potentially taxed. Or you could draw it down over a period of time to try and avoid paying tax.
This gives more info : https://www.moneyadviceservice.org.uk/e ... ension-pot" onclick="window.open(this.href);return false;

Or if RM’s new cash balance proposal is introduced, then I don’t think there is an option to take it all as cash. Just buy an annuity with all of it, or take 25% cash and an annuity with the rest.

Although it does say in this article: http://www.royalmailchat.co.uk/communit ... 27&t=79605" onclick="window.open(this.href);return false; that RM will give us the option of whether to join the DC scheme or the Cash Balance version.