Practical Law UK Glossary 4-204-0441 (Approx. 3 pages)
Glossary
Trivial commutation lump sum
Introduced by the Finance Act 2004, a member of a registered pension scheme whose total pension rights from all registered pension schemes do not exceed £30,000 may commute these rights for a trivial commutation lump sum. The member must have reached the age of 60 before he can take the lump sum.