You will then have three months to choose either extra state pension or a lump sum payment the earliest date you can get a lump sum is the 6th april 2006. Members who breach the recycling rules will be liable to a potential “unauthorised payments charge” of 40%. They wait until july 2006 before choosing a lump sum.

If husband and wife want to make a qualifying payment to a charity, either jointly or separately, the minimum each must pay in a lump is £100. In our previous article we discussed the new legislation allowing deferral of your state pension in favour of a lump sum. Lump sum severance payments will be available to all staff – academic, academic related and support clerical, technical, manual.