GMP removed from pension

Silvertabby

I don't want to be the spectre at the feast, but please don't bank on this! If it is an error (ie, record showing 'deferred' instead of 'refunded') then it could have slipped past the possibly nominal checking procedures used for issuing estimates.

However, I would expect that more robust systems will kick into place once the procedures for paying the benefits/transferring them out start.

Silvertabby

“ Yes it is on offer and I’d love to take it but as I have a DC pension pot over £30k it’s not possible. I’ve asked them for a CETV
”

xylophone wrote: »

Did you read about the "small pot" rule in the link?

It depends on the scheme trivial commutation and other factors - but even a little pension like this could breach £10K.

Sue_S

xylophone wrote: »

Did you read about the "small pot" rule in the link?

Thankyou, no I hadn't (but I have now) however the trivial commutation lump sum is £14,783 so unfortunately I can't take advantage of that.

Sue_S

Silvertabby wrote: »

I don't want to be the spectre at the feast, but please don't bank on this! If it is an error (ie, record showing 'deferred' instead of 'refunded') then it could have slipped past the possibly nominal checking procedures used for issuing estimates.

However, I would expect that more robust systems will kick into place once the procedures for paying the benefits/transferring them out start.

This pension was always a bonus so if it pays out I'll be delighted but thanks for the warning.