Benefit Rules
The pension benefits payable include a tax free cash sum from age 50/55; plus a pension income paid from the pension scheme. On death the benefits may be paid out to beneficiaries, special rules apply on death after age 75. There is no requirement to purchase an annuity. http://www.hmrc.gov.uk/manuals/rpsmmanual/rpsm09100300.htm
Read more about this topic: Small Self Administered Scheme
Famous quotes containing the words benefit and/or rules:
“You say that you do not succeed much. Does it concern you enough that you do not? Do you work hard enough at it? Do you get the benefit of discipline out of it? If so persevere. Is it a more serious thing than to walk a thousand miles in a thousand successive hours? Do you get any corns by it? Do you ever think of hanging yourself on account of failure?”
—Henry David Thoreau (1817–1862)
“Rules and particular inferences alike are justified by being brought into agreement with each other. A rule is amended if it yields an inference we are unwilling to accept; an inference is rejected if it violates a rule we are unwilling to amend. The process of justification is the delicate one of making mutual adjustments between rules and accepted inferences; and in the agreement achieved lies the only justification needed for either.”
—Nelson Goodman (b. 1906)