The Government has introduced an amendment to the Finance Bill dealing with circumstances in which pension commencement lump sums (PCLS) may be paid, for example:

  • when a member dies before becoming entitled to a PCLS; or
  • becomes entitled to a PCLS before reaching the age of 75; or
  • becomes entitled to a PCLS in connection with becoming entitled to a relevant pension.

 The Bill is now at the Committee stage