Transitional issues associated with the pension changes that came into force on 27 March 2014.
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This guidance only applies if you are taking your pension commencement lump sum (sometimes called a tax-free lump sum) before 6 April 2015 and the associated pension before 6 October 2015.
For your lump sum to be paid tax-free you must, within certain time-limits, have a pension associated with the lump sum. The changes described in this guidance allow you longer to decide how to access that pension.
Depending on how you want to access your remaining pension savings after taking your lump sum you may have to wait until further new rules take effect from 6 April 2015.
It does not cover the changes that will take effect from 6 April 2015.