³ÉÈËÓ°Òô

Introduction

The purpose of this note is to consider the tax treatment in the hands of the member of the various authorised payments that are permitted from a registered pension scheme. It covers various lump sums, as well as regular payments, and looks at the tax treatment including whether PAYE has to be applied.

Many of these payments are considered in other notes, but not all of them as some are encountered relatively rarely in practice.

What follows is a full list of authorised lump sum and income payments (the pension rules and the lump sum rules) followed by an outline of the applicable tax treatment.

For the tax treatment of pension income and lump sums from 6 April 2024, see the Pension income and lump sum allowances from 6 April 2024 guidance note guidance note.

Pension payments

The following pension rules are in FA 2004, s 165 (with further explanation in FA 2004, Sch 28).