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Pension Lump Sum
fastrac63
Posts: 4 Newbie
Can Anyone tell me if the ceiling for taking all your pension as lump sum,currently £18000, is to increase or decrease in the next tax year 2011/12.
0
Comments
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I don't think there are any plans to increase this figure.0
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No change.
It is set at 1% of the lifetime allowance. Proposed new legislation is reducing the lifetime allowance from in the 2012/13 tax year but the triviality limit is being left unchanged and will no longer be 1% of the lifetime allowance.0 -
I thought the reduction in LTA wasnt until 2012/2013 tax year?
Household 2 adults, 2 cats and baby boy (2.11.13)
Married my wonderful husband on 2nd June 2012
June GC: 0/3000 -
trina2010, thanks, you're right, the lifetime allowance reduction isn't until April 2012. The allowance is remaining at 1.8 million for 2011/12 and the triviality limit is still unchanged at £18,000.0
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