What is s pension commencement lump sum?

When you can start drawing benefits from your pension scheme, you may be able to take part or all of your pension benefits as a tax-free cash lump sum (called the pension commencement lump sum (PCLS)). If you’re a member of a defined benefit pension scheme, the scheme’s rules will determine how much you can receive as a PCLS. If you’re a member of a defined contribution (DC) pension scheme, you will normally have the option to take up to 25% of the value of your pension pot as a PCLS.

By hello@madebyluno.co.uk|2021-09-10T11:23:08+00:00September 10, 2021|Pensions|0 Comments

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