Salary Sacrifice??

jamesd

Mine used to only formally allow changes in December but would accept ad hoc requests for changes starting when the HMRC rules were changed a few years ago to allow that without a change in life circumstances. More recently they have introduced an online form so that anyone can request a change at any time. Still formally a 50% of pay cap but they will also waive that since it's to protect employees from sacrificing too much. You might want to take a quick look around the pension part of your HR site in case yours has recently implemented a similar change. Or maybe just ask if they can, so that they know there is demand for the ability.

I'll be taking the tax free lump sum soon after I reach 55 regardless of what else is happening. It reduces investment risk and increases my investment flexibility a bit.