FCA’s update on how cancellation rights apply to TFC and PCLS
23 October 2025On 25 September 2025 the FCA published an update to clarify how cancellation rights apply to tax free cash/pension commencement lump sums (PCLS) in conjunction with HMRC Newsletter 173.
If your client changes their mind following the payment of any tax-free lump sum, they cannot cancel that payment and we cannot accept the return of any tax-free lump sum payments.
Our literature and any platform generated outputs will be updated with this relevant information.
If you have any questions, please get in touch with your usual Aberdeen contact or call us on 0345 279 1001.