If you took your plan out before 31 March 2017, any existing surrender charges will be capped at 1% of the funds taken or transferred, if you're aged 55 or over.
If you took your plan out on or after 31 March 2017 there won't be any surrender charge applied if you take or transfer any of your pension funds, if you're aged 55 or over.
If you're under age 55 and you choose to take or transfer your benefits, the surrender charge cap won't apply to you unless you're able to take benefits earlier than 55 due to a protected pension age.
However, if you choose to wait until you're age 55 or over to take or transfer your benefits the cap will apply.
You can find this information by logging into our online services.
You can also contact us or speak to your financial adviser.
If you don't have a financial adviser, you can visit MoneyHelper to find the right one for you.
Visit the Financial Conduct Authority to read more about the changes.
Pension Wise, a service from MoneyHelper, is a free and impartial government service offering guidance about your retirement options. This service is available online at MoneyHelper by phone on 0800 138 3944 or face to face by appointment.