RPSM09300090 – Scheme Administrator Pages: Member benefits: Lump sum payments

What lump sum benefits are available?

There are eight types of authorised lump sums a registered pension scheme can pay to its members. These are

• a pension commencement lump sum - see RPSM09104100 for details,
• a stand-alone lump sum - see RPSM03105155, RPSM03105202 and RPSM03105640
• a serious ill health lump sum – see RPSM09104600,
• a refund of excess contributions lump sum – see RPSM09104800,
• a trivial commutation lump sum – see RPSM09104900,
• a payment of commuted equivalent pension benefits – see RPSM09105300
• a lifetime allowance excess lump sum – see RPSM09105200,
• a short service refund lump sum – see RPSM09104700, and
• a winding up lump sum – see RPSM09105100.

The level of these payments is defined by legislation and would be dependant on the size of the member’s pension fund.