We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Who polices the 25% tax free pension lump sum
Comments
-
tigerspill wrote: »Reading more of me AVC documentation seems to suggest that the 25% is calculated on my whole pension and that you can take the 25% from the AVC pot and leave the rest untouched.
Yes but that's a bit different to saying you don't want your automatic lump sum but want to increase the pension if you don't take it.
The LGPS has a similar scheme where the AVC pot can be used to fund the tax-free lump sum. However this did not apply to the pre 2008 part where there was an automatic lump sum - this still had to be taken and any further lump sum up to 25% could be taken from the AVC pot.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards