Pensions tax: authorised lump-sum payments
This practice note examines the various lump-sum benefits that registered pension schemes can provide as authorised payments. Among other areas, the note covers the rules relating to payment of pension commencement lump sums (including a checklist of qualifying criteria), trivial commutation and small lump sums, and uncrystallised funds pension lump sums, as well as the various forms of lump-sum death benefit payable after a member has died. On 18 November 2015, the Finance (No. 2) Act 2015 received Royal Assent. We will update this note to reflect its provisions as soon as practicable.