RPSM04101060 - Technical Pages: Taxation: Authorised member payments: Authorised lump sums
What lump sums are authorised lump sums?
Payments made in the member’s lifetime
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The following lump sum payments are the only lump sums that are authorised member payments from a registered pension scheme that can be paid to a member in their lifetime
- a pension commencement lump sum,
- a stand-alone lump sum,
- a serious ill-health lump sum,
- a short service refund lump sum,
- a refund of excess contributions lump sum,
- a trivial commutation lump sum,
- a winding up lump sum,
- a lifetime allowance excess lump sum, and
- an equivalent pension benefits commutation lump sum.
Further information on these lump sum payments can be found at RPSM09104000 onwards.
Payments made after the death of the member
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The following lump sum payments are the only lump sums that are authorised member payments that can be paid following the member’s death
- a defined benefits lump sum death benefit,
- a pension protection lump sum death benefit,
- an uncrystallised funds lump sum death benefit,
- an annuity protection lump sum death benefit,
- a drawdown pension fund lump sum death benefit,
- a pension guarantee payment,
- a charity lump sum death benefit,
- a transfer lump sum death benefit,
- a trivial commutation lump sum death benefit,
- a winding up lump sum death benefit, and
- a life cover lump sum.
Further information on these lump sum payments can be found at RPSM10106000 onwards (or if the individual died before 6 April 2011 RPSM10105000 onwards).
A scheme administration member payment (which is an authorised member payment) may also be paid as a lump sum.
Any other lump sum payment to or in respect of a member will be an unauthorised member payment and taxed accordingly.
| Glossary (RPSM20000000) |
