Starting the process of requesting pension

[freespeech]

I left RM in April and had previously requested a pension statement which I didn't action. A couple of months after leaving I had a further pension statement as part of the redundancy process....again I didn't take the pension. My plan was to use my redundancy through to April 2026 when my NRA60 would be due. However, I'm concerned about the potential reduction to the tax free element of pension payments in the budget (November 26th) so am leaning towards taking both NRA60 and 65 early (albeit by the time it's actioned NRA60 will only be a couple of months early).

Given I have already had two options to take my pension this year, where it's usually only one allowed per year, how do I start the process of applying for my pension?

[RobertT]

Personally I don't think the tax free lump sum allowance will be reduced in the forthcoming budget and you're worrying unnecessarily on that front.

If you want to take your pension/s before NRA, you initiate the process with the RMPP and they contact the RMSPS on your behalf.

There's a chance they might refuse if you've already used up your allocation of quotes, but there's only one way to find out.

[freespeech]

Personally I don't think the tax free lump sum allowance will be reduced in the forthcoming budget and you're worrying unnecessarily on that front.

If you want to take your pension/s before NRA, you initiate the process with the RMPP and they contact the RMSPS on your behalf.

There's a chance they might refuse if you've already used up your allocation of quotes, but there's only one way to find out.

Thanks Robert......in terms of NRA60 even if I started the process today I would be unlikely to be in receipt of the pension until early 2026 so it's literally two months early. The flip side is that if any changes are made in November that are implemented from April and the new tax year then I have around £150k tax free lump sum at risk. For the sake of 8-10 weeks that is a massive gamble if it does change. Furthermore if there are changes then I would expect a big increase in applications to take your pension so the process could take longer which would put me into the new tax year.