Trivial commutation lump sum

A lump sum which may be payable where a member's entitlement under all schemes is less than 1% of the standard lifetime allowance

Such a lump sum must comply with the following :

• it is paid when no trivial commutation lump sum has previously been paid to the member (by any registered pension scheme) or, if such a lump sum has previously been paid, before the end of the commutation period;
• on the nominated date, the value of the member's rights does not exceed the commutation limit;
• it is paid when all or part of the member's lifetime allowance is available.
• it extinguishes the member's entitlement to benefits under the pension scheme;
• it is paid when the member is aged 60 but has not reached 75.

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