What is Pension Triviality?

Currently, if you are aged 60 or more and the value of your combined pension funds is £30,000 or less, not including the state pension, you should be able to release the entire amount as a lump sum, rather than having a very small pension income for life.

In addition to the above, if you have up to 3 separate pots of less than £10,000 each you can take these as a lump sum as well.

From April 2015 the above may change depending upon the type of pension scheme you are in. Click here for more information about this change.

Below are some common questions we receive regarding pension triviality. Click on a question to read it’s answer.










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*All annuity figures are quoted before tax e.g. gross. This assumes that the person purchases an annuity on a single life basis, paid monthly in advance, guaranteed for 5 years and level in payment. Based on rates available 17 July 2014.