How to work out the value of a final salary pension.

goRt

peterg1965 wrote: »

Thank you for clarity on that point.

On the question of the 3 year 'carry over' , is it current and three tax years back, or current and two?

Current and 3

goRt

hugheskevi wrote: »

Multiply the amount of annual pension when payment is commenced by 20, and add to that any lump sum.

£920,000

No, they simply said they will review it in 2016, it remains at £1.5m until then (unless they decide to change it again).

I seem to remember that you take the 920k and look at the %age that is of 1.8m and then when the 1.5m comes on you're at that %age of 1.5m

goRt

peterg1965 wrote: »

Would it be worth applying for fixed protection anyway? Are there any drawbacks of doing so, and can an individual do the necessary or has it got to be an IFA?

Anyone know the answer to this point?

Thanks

RichandJ

Yep, it is the previous September's CPI, my mistake.

Fixed Protection starts here :

http://www.hmrc.gov.uk/manuals/rpsmmanual/RPSM11101500.htm

peterg1965

RichandJ wrote: »

Yep, it is the previous September's CPI, my mistake.

Fixed Protection starts here :

http://www.hmrc.gov.uk/manuals/rpsmmanual/RPSM11101500.htm

Thank you for the link. Fixed protection is not for me, a condition is that I would have to stop contributing now to all of my registered pension schemes, by that I assume my SIPP and my public sector scheme, even though it is non contributory.