Frequently Asked Questions

Can I take my 25% cash sum without having to take a pension income?

Although new pension legislation allows this, many occupational schemes and pre April 2006 life insurance personal pension plans require that if you take your 25% cash lump sum you must also take a pension income from the balance of 75% of the fund.

A transfer to a Self Invested Personal Pension (SIPP) would allow you to take your 25% cash sum, leave the balance invested, and defer taking some or all of the pension until a later date but not later than age 75.

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