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Trivial Commutation with SIPP
ditsy_woman
Posts: 1 Newbie
Im retirement age and frustrated! I have been offered a Trivial Commutation lump sum from the only company I ever worked for who had a pension scheme. But as I was worried about a lack of pension I opened a SIPP. I’ve reached retirement age and the value of the SIPP is more than £30k so I think that means I can’t get the trivial commutation lump sum. So it feels I’ve be punished for doing the right thing. Is there anything I can do about this or just have to accept the 25% lump sum and very small monthly amount? Thank you.
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Comments
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Transfer the pension to the SIPP ?
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Is the DB pension public sector (apart from LGPS)?0
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How much you have in the SIPP is irrelevant to getting trivial commutation from the old scheme.
How much would the trivial commutation be ?0 -
I thought there was a £30k limit, counted across all pensions the op has. So I think the SIPP could scupper things.Albermarle said:How much you have in the SIPP is irrelevant to getting trivial commutation from the old scheme.
How much would the trivial commutation be ?0
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