The pension and cash lump sum values are estimates based on the assumptions shown in your illustration - they are not guaranteed.
These amounts do not take account of any tax you may have to pay.
When you buy an annuity, you can usually take up to 25% of your plan value as a tax free cash lump sum. You can choose to take more cash if you want but any cash taken above 25% will be treated as taxable income in the tax year in which you take it.
The assumed rate of inflation is 2.5%.
Your pension illustration is calculated using certain assumptions – please refer to your illustration for details of these.
If your statement shows a separate value for non-protected rights and former protected rights, don’t forget to add them together.