When you retire you can choose to receive part of your Pension Account as a tax-free cash sum. The amount of the immediate tax-free cash sum you can take is 25% of you current Pension Fund.

However, under the Legislation and practice currently in operation, the balance of 75% of your total fund can also be withdrawn as a tax free lump sum in lieu of the purchase of an annuity 

We recommend that you take financial advice regarding how much tax-free cash to take from the Plan.