Max PCLS from multiple pensions

saintalan

I understand the max PCLS is 25%.

I have a FS pension + AVC in same plan and am being allowed to take all the AVC as part of the PCLS and thus keep the max annual pension without having to worry about how to invest the AVC proceeds.

I also have a deferred LGPS (with Automatic LS) and another Money Purchase scheme with L&G. I assume the max from each will be 25% PCLS but was just wondering if they also can be combined so as to take the combined max from the L&G as PCLS. I think I read somewhere that in order to do this they have to be part of the same plan but I am not sure.

If the above is not possible would I be able to take the 2 FS schemes and defer the L&G without penalty?

I will be taking them later this year.

Many Thanks

Alan

jem16

saintalan wrote: »

I think I read somewhere that in order to do this they have to be part of the same plan but I am not sure.

This can only be done with AVCs attached to the main scheme.

If the above is not possible would I be able to take the 2 FS schemes and defer the L&G without penalty?

Yes you can.