This note explains the law and practice regarding the key benefits available to members of occupational pension schemes in normal, early or late retirement, including the right to take a tax-free cash lump sum and the situations in which a pension may be commuted in its entirety. In addition, the note provides guidance on the increases that are payable in respect of pensions in payment (indexation), PPF compensation and the benefits available under NEST.
Practical Law Pensions
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