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A deep-dive into a variety of pension topics to help you understand and learn more about your pension and the Scheme.

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A notepad with a picture of a pencil and the word blog written on the front.
4/6/2025
Author: Editorial
<p><em>This blog is the third and last from a series of 3 articles on saving more with BRASS. You can read the previous articles at the bottom of this page.&nbsp;</em></p><p>BRASS is the main arrangement for members of the Railways Pension Scheme (RPS) who want to pay more on top of the normal contributions they make towards their pension. </p><p>It’s available to all Defined Benefit (DB) active members and is a great way to boost your retirement income. </p><p>BRASS is popular with our members, and we sometimes receive specific questions about different aspects of saving more with it. We’ve explained some of the specifics of BRASS below to help you get to grips with it.</p><p>Below, we’ve collated some common questions we receive about saving more with BRASS and we’ve provided an answer to each one.<br></p><p>Please visit the <a href="https://member.railwayspensions.co.uk/defined-benefit-members/saving-more-BRASS-AVC-Extra/saving-more-with-BRASS" data-sf-ec-immutable="">Saving more with BRASS area of the website</a> for more information.&nbsp;</p><p>&nbsp;</p><h3>How can I take my BRASS pot?</h3><p>You must take your BRASS pot at the same time as you take your main Scheme pension. You should apply to take your BRASS pot at the same time as you apply to take your pension.<br></p><p>Most BRASS members must take a tax-free cash lump sum equal to the value of their BRASS pot, up to the maximum allowed by HMRC. <br></p><p>Alternatively, you can choose to transfer your BRASS pot to another provider. If you are considering this option, we strongly recommend you seek independent financial advice before you take an action.<br></p><p>&nbsp;</p><h3>From what age can I take it?</h3><p>Unless your BRASS pot is transferred to an alternative provider, it will be paid at the same time as your main Scheme benefits. <a href="https://member.railwayspensions.co.uk/knowledge-hub/news-and-views/blog/rps-blog/2025/05/15/a-closer-look-at-brass--part-2" data-sf-ec-immutable="">Give the second blog in the series a read</a> for more information on this.<ins cite="mailto:Rob%20Hughes" datetime="2025-04-08T07:24"></ins></p><p>&nbsp;</p><h3>How does converting BRASS savings to pension work?</h3><p>Depending on the rules of the section you are paying in to, you may be required to take a tax-free cash lump sum of at least the value of your BRASS pot, as long as it is not more than the maximum tax-free lump sum allowed by HMRC. The maximum is 25% of the total value of your pension benefits.<br></p><p>If you elect to take a minimum lump sum and more pension, the value of your lump sum will be equal to your BRASS pot, as long as it is not more than the maximum lump sum allowed by HMRC. This means you won’t need to convert any pension to pay your lump sum.<br></p><p>If the value of your BRASS pot is greater than the maximum allowed by HMRC, the excess BRASS funds will be converted to additional pension. The conversion rates depend on section of the Scheme you are in.<br></p><p>If the value of your BRASS pot is less than your chosen lump, either because you have opted to take the maximum or a specified amount, the difference will be converted from your pension. This means although some of your pension will be converted to lump sum, your BRASS pot will contribute towards your lump sum meaning less pension will be used.<br></p><p>Have a read of the <a href="https://cdn3.railpen.com/mp-sitefinity-prod/docs/default-source/rayn/guides-for-active-(contributing)-members/a-guide-for-brass-members.pdf?sfvrsn=18a5265a_23" data-sf-ec-immutable="">Read As You Need guide</a> for more information. </p><p>&nbsp;</p><h3>Can I cash in my BRASS and/or AVC Extra pots when I reach age 55?</h3><p>You can take your BRASS and/or AVC Extra pots separately to your main RPS pension. <br></p><p>To take your BRASS pot earlier than your Scheme pension, you will have to transfer its value to another registered pension provider and to then take it from them. <br></p><p>You can take your AVC Extra pot directly from the Scheme from age 55 onwards. <br></p><p>You can also leave your AVC Extra pot in the Scheme even if you decide to take your main RPS pension.&nbsp; You can leave it unclaimed after retirement and take it at a later point if you wish. The latest you can leave it in until is age 75 which is also the latest age you can take your main Scheme pension. Find out more about AVC Extra on the <a href="https://member.railwayspensions.co.uk/defined-benefit-members/saving-more-BRASS-AVC-Extra/save-more-AVC-Extra" data-sf-ec-immutable="">Managing my AVC Extra page</a>.&nbsp;</p><p>&nbsp;</p><h3>Does the Money Purchase Annual Allowance (MPAA) apply to BRASS and AVC Extra after I have taken my defined benefit pension? Is it worth still paying into BRASS and AVC Extra after taking my pension pot as allowance for these reduces to £10,000 a year?</h3><p>You will not trigger the MPAA by claiming your BRASS pot along with your main RPS benefits. This is because MPAA is triggered when you have flexibly accessed any DC (defined contribution) pension that you have built up.&nbsp; <br></p><p>The current Scheme rules require you to take your BRASS together with your main RPS benefits. When you come to take your BRASS pot and your pension, you can take some of your savings in the form of a lump sum. The lump sum will be tax-free as long as the value of it is up to the maximum HMRC limit. This is also known as the Pension Commencement Lump Sum (PCLS) of a Defined Benefit (DB) pension scheme.</p><p>Once you’ve reached the limit set by HMRC, the remaining savings you have in your BRASS pot is converted to a Scheme pension.&nbsp; <br></p><p>However, if you are saving more with the AVC Extra arrangement, your AVC Extra pot is classed as a standalone DC pot and therefore, it cannot be converted to a DB Scheme pension. The MPAA will apply in this case as the AVC Extra arrangement is a defined contribution (DC) one. <br></p><p>The current MPAA is £10,000 which means if you are subject to it, you can only pay a maximum of £10,000 tax free into any DC arrangement every tax year. <br></p><p>If you think you would benefit from financial guidance or advice, read the information on the <a href="https://member.railwayspensions.co.uk/pension-essentials/guidance-advice" data-sf-ec-immutable="">Guidance and advice&nbsp;page</a>.<strong></strong><br></p><p>&nbsp;</p><h3>What is the minimum age to access the funds while avoiding tax?</h3><p>The earliest pension age is currently 55 for most RPS members. This is different for members who have Protected Pension Age (PPA) of earlier than 55.&nbsp; </p><p>You must take your BRASS pot together with your main Scheme pension. If you have PPA of earlier than 55, and wish to claim your pension benefits at an earlier age, you must claim all pension benefits within the Scheme at the same time including your main RPS pension, any BRASS and/or AVC Extra savings as well as any Industry Wide Defined Contribution (IWDC) pension benefits you may have. </p><p>Taking your pension earlier than your normal retirement age (NRA) means we’ll apply early retirement factors because you’ll be receiving your pension for longer. This means you’ll likely get less pension each year compared to taking it at your NRA. <br></p><div><div><div id="_com_1"></div></div></div>
Blog

A closer look at BRASS, part 3

Taking your BRASS pot.

This blog is the third and last from a series of 3 articles on saving more with BRASS. You can read the previous articles at the bottom of this page. 

BRASS is the main arrangement for members of the Railways Pension Scheme (RPS) who want to pay more on top of the normal contributions they make towards their pension.

It’s available to all Defined Benefit (DB) active members and is a great way to boost your retirement income.

BRASS is popular with our members, and we sometimes receive specific questions about different aspects of saving more with it. We’ve explained some of the specifics of BRASS below to help you get to grips with it.

Below, we’ve collated some common questions we receive about saving more with BRASS and we’ve provided an answer to each one.

Please visit the Saving more with BRASS area of the website for more information. 

 

How can I take my BRASS pot?

You must take your BRASS pot at the same time as you take your main Scheme pension. You should apply to take your BRASS pot at the same time as you apply to take your pension.

Most BRASS members must take a tax-free cash lump sum equal to the value of their BRASS pot, up to the maximum allowed by HMRC.

Alternatively, you can choose to transfer your BRASS pot to another provider. If you are considering this option, we strongly recommend you seek independent financial advice before you take an action.

 

From what age can I take it?

Unless your BRASS pot is transferred to an alternative provider, it will be paid at the same time as your main Scheme benefits. Give the second blog in the series a read for more information on this.

 

How does converting BRASS savings to pension work?

Depending on the rules of the section you are paying in to, you may be required to take a tax-free cash lump sum of at least the value of your BRASS pot, as long as it is not more than the maximum tax-free lump sum allowed by HMRC. The maximum is 25% of the total value of your pension benefits.

If you elect to take a minimum lump sum and more pension, the value of your lump sum will be equal to your BRASS pot, as long as it is not more than the maximum lump sum allowed by HMRC. This means you won’t need to convert any pension to pay your lump sum.

If the value of your BRASS pot is greater than the maximum allowed by HMRC, the excess BRASS funds will be converted to additional pension. The conversion rates depend on section of the Scheme you are in.

If the value of your BRASS pot is less than your chosen lump, either because you have opted to take the maximum or a specified amount, the difference will be converted from your pension. This means although some of your pension will be converted to lump sum, your BRASS pot will contribute towards your lump sum meaning less pension will be used.

Have a read of the Read As You Need guide for more information.

 

Can I cash in my BRASS and/or AVC Extra pots when I reach age 55?

You can take your BRASS and/or AVC Extra pots separately to your main RPS pension.

To take your BRASS pot earlier than your Scheme pension, you will have to transfer its value to another registered pension provider and to then take it from them.

You can take your AVC Extra pot directly from the Scheme from age 55 onwards.

You can also leave your AVC Extra pot in the Scheme even if you decide to take your main RPS pension.  You can leave it unclaimed after retirement and take it at a later point if you wish. The latest you can leave it in until is age 75 which is also the latest age you can take your main Scheme pension. Find out more about AVC Extra on the Managing my AVC Extra page

 

Does the Money Purchase Annual Allowance (MPAA) apply to BRASS and AVC Extra after I have taken my defined benefit pension? Is it worth still paying into BRASS and AVC Extra after taking my pension pot as allowance for these reduces to £10,000 a year?

You will not trigger the MPAA by claiming your BRASS pot along with your main RPS benefits. This is because MPAA is triggered when you have flexibly accessed any DC (defined contribution) pension that you have built up. 

The current Scheme rules require you to take your BRASS together with your main RPS benefits. When you come to take your BRASS pot and your pension, you can take some of your savings in the form of a lump sum. The lump sum will be tax-free as long as the value of it is up to the maximum HMRC limit. This is also known as the Pension Commencement Lump Sum (PCLS) of a Defined Benefit (DB) pension scheme.

Once you’ve reached the limit set by HMRC, the remaining savings you have in your BRASS pot is converted to a Scheme pension. 

However, if you are saving more with the AVC Extra arrangement, your AVC Extra pot is classed as a standalone DC pot and therefore, it cannot be converted to a DB Scheme pension. The MPAA will apply in this case as the AVC Extra arrangement is a defined contribution (DC) one.

The current MPAA is £10,000 which means if you are subject to it, you can only pay a maximum of £10,000 tax free into any DC arrangement every tax year.

If you think you would benefit from financial guidance or advice, read the information on the Guidance and advice page.

 

What is the minimum age to access the funds while avoiding tax?

The earliest pension age is currently 55 for most RPS members. This is different for members who have Protected Pension Age (PPA) of earlier than 55. 

You must take your BRASS pot together with your main Scheme pension. If you have PPA of earlier than 55, and wish to claim your pension benefits at an earlier age, you must claim all pension benefits within the Scheme at the same time including your main RPS pension, any BRASS and/or AVC Extra savings as well as any Industry Wide Defined Contribution (IWDC) pension benefits you may have.

Taking your pension earlier than your normal retirement age (NRA) means we’ll apply early retirement factors because you’ll be receiving your pension for longer. This means you’ll likely get less pension each year compared to taking it at your NRA.

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