LUMP SUM FIGURES ON THE LAST 2 PENSION BENEFIT ILLUSTRATIONS ?

thewayforward · Post by **thewayforward** » 18 Jun 2019, 15:47

There are no lump sum figures in the last 2 pension illustrations I have to go back to 2016 for a maximum tax free cash sum to be quoted. Does anyone know why this is so? Thankyou.

Post by **RobertT** » 19 Jun 2019, 04:26

There is some explanation on the 2017 illustration, although it doesn't exactly go into much detail.
You can work out your maximum lump sum from the info on page 12 of your plan guide.

thewayforward · Post by **thewayforward** » 19 Jun 2019, 13:06

Thankyou Robert T for all your helpful replies.

Post by **stephen500** » 19 Jun 2019, 17:26

thewayforward wrote:There are no lump sum figures in the last 2 pension illustrations I have to go back to 2016 for a maximum tax free cash sum to be quoted. Does anyone know why this is so? Thankyou.

For section B I add 86% to my min lump sum and that seems to be in the ball park, for what it was in the old illustrations.

Post by **stephen500** » 19 Jun 2019, 17:27

thewayforward wrote:There are no lump sum figures in the last 2 pension illustrations I have to go back to 2016 for a maximum tax free cash sum to be quoted. Does anyone know why this is so? Thankyou.

But don't forget if you take the max lump sum, you will lose around 15% of your yearly pension.