Pension commencement lump sums (PCLSs)
Pension commencement lump sums (PCLSs)When a member of a pension scheme becomes entitled to receive their scheme benefits, they can usually take part as a tax-free lump sum. HMRC calls this a 鈥榩ension commencement lump sum鈥 (PCLS). Taking a lump sum is usually at the option of the member who will