TFLS from workplace still paying in

Mozza001

Hi all.

Still employed still salary sacrificing every month into an Aviva workplace pension.

Is it possible to take TFLS from this and carry on paying into it monthly as normal?

I will not be wanting to drawdown any cash, just the 25%

Linton

Mozza001 said:

Hi all.

Still employed still salary sacrificing every month into an Aviva workplace pension.

Is it possible to take TFLS from this and carry on paying into it monthly as normal?

I will not be wanting to drawdown any cash, just the 25%

Legally you can, whether your scheme permits it may be another matter so you will have to ask HR. 

A problem could be that old contributions with 25% taken need to be separated from new contributions for which a 25% is still available. Not all pension schemes support this facility.

Albermarle

egally you can, whether your scheme permits it may be another matter so you will have to ask HR. 

I would also ask the pension provider directly, as HR people are not always that clued up about pensions.

bolwin1

Another option, should your scheme allow it, would be to transfer most of your workplace pension into a SIPP & then take the 25% from the SIPP. I suspect your work pension scheme would be more likely to allow that option compared to taking 25% out of it.

PattiTelongo

Mozza001 said:

Hi all.

Still employed still salary sacrificing every month into an Aviva workplace pension.

Is it possible to take TFLS from this and carry on paying into it monthly as normal?

I will not be wanting to drawdown any cash, just the 25%

I’m in a similar position and looking to do the same very soon. I talked to Aviva about a month ago and they said I could carry on contributing into my employer scheme as I do now after taking TFLS. I

Mozza001

There's no option online, but it DOES state that taking TFLS only IS available, but have to ring them 

When I'm logged in there's a calculator tool that allows you to get illustrations.

The pension in question is described as
" flexible workplace pension" 

I'll ring them Monday 

Albermarle

PattiTelongo said:

Mozza001 said:

Hi all.

Still employed still salary sacrificing every month into an Aviva workplace pension.

Is it possible to take TFLS from this and carry on paying into it monthly as normal?

I will not be wanting to drawdown any cash, just the 25%

I’m in a similar position and looking to do the same very soon. I talked to Aviva about a month ago and they said I could carry on contributing into my employer scheme as I do now after taking TFLS. I

Just for others to be aware, Aviva has many different parts, due to past takeovers, consolidation etc.
Many of these are not integrated together and will have different procedures, rules etc.
So you need to always check yourself.