RPSM09104960 - Technical Pages: Member benefits: Lump sums: Trivial commutation lump sum: 12 month window

If the lump sum was paid on or after 6 April 2011 you should first read RPSM09105085.

The 12 month commutation period

Once the member has taken a trivial commutation lump sum then, once the 12-month commutation period ends, the individual may not commute any other benefits under any registered pension scheme in this way. So the individual has a one-off 12-month period to commute trivial funds.

Whilst there is only one 12-month window, the member may choose to commute any trivial benefits in any 12 month period between their 60^th and 75th birthdays. The individual therefore potentially has a long period in which to plan their financial affairs.

Trivial commutation lump sums may be paid in respect of different schemes, but all those payments must be made within a single 12 month period (the commutation period).