From: "Stickems." 
Newsgroups: uk.finance uk.legal
Subject: Re: Flexible Retirement
Date: Sat, 28 Jul 2007 12:48:10 GMT
Bytes: 2002

Yes, it is now a legal requirement, since A Day when the 25% tax free cash 
was renamed "Pension commencement lump sum". As the new name implies it is 
only available when the pension starts.


"Richard Friend"  wrote in message 
news:ctuga3l8pubk8q6o2ikljuek5socfstp1s@4ax.com...
|I am in a money purchase scheme with the company I work for.
|
| Last year the Pension Company sent us information regarding the
| Pension changes.
|
| Part of that info said that if we were of pensionable age (50+) we
| could take out 25% tax free lump sum and/or an annuity with our
| pension pot.
|
| They have now said that we cannot take out the 25% tax free and must
| take all or nothing regarding buying the annuity.  We can only take
| the 25% when we take the annuity.
|
| Is this a legal requirement?
| Does anyone have pointers to sites with good/honest explanation of the
| options available.