| j | k | l
| v | w | x | y | z | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9
Click one of the letters above to advance the page to terms beginning with that letter.
- Commutation factorsearch for term
A commutation factor* is used to work out the amount of pension which you need to give up to provide the lump sum. A typical factor would be 12 times which means that if you give up a pension of Â£1,000 a year you will get a tax free lump sum of Â£12,000.