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Railway Pensions Query
Comments
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There are options on the claim form to increase the taxfree lumpsum/reduce the pension or to take level payments and/or opt for a larger widows element.
investigate this to reduce your tax re the backdated amts.
Consider paying this excess income into a new personal pension. this will mean you wont' pay tax on it, and it will be increased by the BRTax. And you could immediately Vest the pension and talke the 25% LS on the new pension.
Also, not sure your tax/pension situation has been fully described. As to if you can invest more of this income into a pension for you as well.0
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