When you take your pension you will be able to give up some of it for lump sum, up to a certain limit. For every £1 of pension you give up you will get £12 of tax free lump sum. Use this calculator to check how much lump sum you can take and how this affects your pension.
When you take your pension your pension fund will ask you if you want to give up some of your pension for lump sum. The maximum tax-free lump sum is generally 25% of the capital value of your pension benefits.
How this tool works