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yes , the estimate of my pension on retirement in 1 year is either £20k pa and a lump sum of £60K or I can commute my annual pension to £16K and take a lump sum of £100K . On top of this I will have about £8K state pension
I now know that the first £10.6 K will be tax free on my income , ie. my annual pension but what about my lump sum ?