We have already covered triviality commutation for cashing in small pensions pots (private pensions and money purchase), defined benefit pension schemes and triviality on winding up/closing down occupational pension schemes.
Small Pension Cash In Trivial Pension Cash In Trivial Pension Wind Up
Triviality rules can also be used on your death where your defined benefit or defined contribution/money purchase occupational pension scheme is being paid out to a surviving spouse or beneficiary.
Trivial Lump Sum Rules on Death:
Lifetime allowance (the maximum you can accrue in pensions throughout your lifetime) – A trivial commutation lump sum death benefit is not a benefit crystallisation event and taking benefits in this way does not use up either the deceased member's or the beneficiary’s lifetime allowance.
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