P60s are issued to members in receipt of a pension from the Scheme.
In addition to providing you with your pension income and tax deductions, the P60 is also used to meet our obligation to confirm to you annually how much of this limit is used up by your Scheme benefits.
The Lump Sum Allowance (LSA) value shown on your P60 is for this purpose only, it is not a value which can or will be paid to you. The detail on the P60 is based on the information requirements set out in the legislation in place when you retire; please be aware that for some members the legislative LSA value shown on their P60 may be different from the lump sum which was actually paid (it can be more or less than you received, and a value may also be shown even if you did not receive a lump sum). If you are taking pension benefits from another provider, this information may not be sufficient. In this situation, we recommend that you request the value of your pension rights from the Pensions team.