When entering a member’s retirement lump sum (part 10 of the paper AW8) in to Pensions Online (POL), you are unable to specify whether the member wishes to receive the maximum lump sum which may incur a tax charge, or whether they wish to receive the maximum tax free amount.
Please submit the AW8 with the member’s decision as either:
- No commutation, Specific amount
or
- Maximum commutation
We will contact you if we require any further information in relation to the tax charge.
The AW8 POL guide will be updated as soon as possible.
