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Small Self-Administered Scheme

Benefits from age 55 to age 77

Pension commencement lump sum

The maximum tax-free lump sum that can be taken is 25% of the fund used to provide pension benefits up to the lifetime allowance and must be taken by age 75. Therefore, the maximum tax-free cash is as follows:

Tax Year Maximum Tax-free Cash
2010/2011 to 2015/16 £450,000

Individual members may be entitled to more than this amount if pension fund protection has been granted.

Pension

Any pension taken from the fund will be treated as earned income and will therefore be liable to income tax. Pension income may be taken from age 55 to age 77 as listed below.

This information relates to the Rowanmoor Pensions SSAS.