Taking benefits

Read our Taking benefits guide to learn about:

Uncrystallised funds pension lump sum
Small lump sums
Flexi-access drawdown
Capped drawdown
Ill-health and serious ill-health
Payment of pensions abroad

Return to this page and complete the questions below to download your CPD certificate. You don’t need to read all the articles in one go – just pick up where you left off.

Learning objectives

Know the conditions and rules for taking lump sums and drawdown.
Understand when to recommend lump sums and flexi-access drawdown.
Be able to explain capped drawdown.
Understand how ill-health can affect pension arrangements.
Understand the pension implications of moving abroad.

The information on this page is based on our understanding of legislation as at 1 August 2024.

Test your knowledge

Once you've read all six sections of the guide, enter your name and correctly answer the questions below to generate your CPD certificate.

Enter your first name

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Question 1: If a small lump sum is paid from crystallised funds, how much of the fund can be paid tax free?

25%, with the balance subject to income tax in the tax year the payment is made

100%

55%

Question 2: Which of these circumstances would trigger a money-purchase annual allowance (MPAA)?

When a member turns 55

Withdrawing a tax-free lump sum

Taking the first flexi-access drawdown income payment

Question 3: What is the maximum income limit for capped drawdown?

150% of the basis amount

125% of the basis amount

100% of the basis amount

Question 4: When was flexi-access drawdown introduced as an option?

6 April 2015

6 April 2021

6 April 2016

6 April 2011

Continuous Professional Development

Completed on:

CPD credit: 30 CPD mins

The User

Taking benefits

Completed on: 20 July 2023
CPD credit: 30 CPD mins

CPD Learning covered

Know the conditions and rules for taking lump sums and drawdown.
Understand when to recommend lump sums and flexi-access drawdown.
Be able to explain capped drawdown.
Understand how ill-health can affect pension arrangements.
Understand the pension implications of moving abroad.

Article Taking benefits

Learning objectives

Test your knowledge

Certificate of completion

The User

CPD Learning covered