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Trivial pension
cynthiab
Posts: 7 Forumite
My husband has a frozen pension from when he was self employed and the yearly estimated pension is a meagerly £843. He has asked for a lump sum (not due til 2010). How do they calculate this?
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Comments
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If you are aged over 60 and the value of ALL your personal and occupational pensions is less than 1% of the lifetime allowance, then you can do trivial commutation. If its more than that then its often possible to combine the pensions and buy one income.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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It is based on actuarial factors, they take into account his age, pension, if he has a spouse and use factors provided by the actuaries to calculate it.0
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