How do I go about cashing-in my entire pension under the triviality rules?

M

mike47

Guest
Hi, This is my first post so please bear with me and thanks in advance for reading.

I have just retired from self employment and would like to cash in my private pension policy of £17,486 (with AXA). I have looked up 'triviality' on the net but can't find out how to go about it. Do I need an IFA? I think I qualify to use this option as I'm 60 and this is my only pension which is worth less than £18,000.

I've recieved a summary from AXA explaining my options - Buy an anninuity, Open market, 25% lump sum. But no mention of trivality?

Thanks in advance, Mike.
 
Have you contacted Axa and asked them why they have not offered you the option?

It may be an oversight on their behalf. The pensions claim/maturity system they have may not automatically pick up on it.

Some info on it on UK Revenue site
 
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