Taking benefits as cash

Take all your benefits as a cash lump sum instead of an income

If your Fund benefits are worth less than £10,000 as a lump sum, you could choose to take that money in one go, instead of having an income. If your Fund benefits are worth more than £10,000 you can still take them all as cash, as long as all your pension arrangements in total are worth less than £30,000.

You might want to do this if the value of the income you could take instead would be very small. You’ll probably have to pay tax on some of the money you get.