Dear Mike, similar position: early retirement, commuted lump sum payment, reduced pension. However, the acid test is where one's permanent home is viewed to be (or at least that was our legal advice, and here I obtained it from the in-house Barrister at my then very major Plc. Based on his advice, we took the lump sum payment in this country and then waited for a suitable time before moving to France. I cannot be 100% sure but the question of where ones permanent domicile is the straw that could break the camels back. take advice