Press Releases
23 December 2009
HMRC relaxes trivial pensions rules
New, more flexible rules are introduced on 1 December 2009 which will allow members to cash in small benefit entitlements even if they wouldn’t normally qualify under current rules. The current rules group the various small entitlements together before deciding whether the combined amounts qualify for commutation. There are also new lump sum options to tidy up odds and ends of benefits that appear after the main entitlement has been settled.
Trustees should check their scheme rules to ensure they allow them to take advantage of these new relaxations.