Important news if you are thinking about taking money out of your pension policy before the 2023/2024 tax year end

If you are considering taking a partial or full cash payment before the 2023/2024 tax year end, please see our timetable of requirements below:

Step 1: Retirement options

• It is an FCA requirement to provide policyholders with options in writing before we can issue claim forms. Options need to have been received within 12 months of the payment request
• Requests for options need to be with us by 16 February 2024

Step 2: Request for cash - partial or full

• Requests for forms need to be with us by 1 March 2024

Step 3: Return of fully completed payment forms

• Fully completed payment forms need to be with us by 22 March 2024

Step 4: Final date of payment - 28 March 2024

• Assuming we have received all of our requirements, this is the final date we expect to be able to ensure payment before the end of the tax year

We will do our best to process any requests and forms received after the dates quoted above, but we need to make you aware that in these circumstances it may not be possible for us to make the payment before the end of the tax year. Please contact us as early as possible if you are considering taking a payment before the end of the tax year.