LTA expressed as percentage

Sterlingtimes

On 30 December 2014, I crystalised £140,000 of my pension. The letter from Hargreaves & Lansdown expressed this as a percentage rather than a sum, i.e. 11.2% of LTA.

When the maximum LTA reduces to £1 million, will I still have used 11.2% of LTA or will this be recalculated as £140,000/£1,000,000 = 14% of LTA?

JasonPr

11.2%

jamesd just explained this really well: http://forums.moneysavingexpert.com/showpost.php?p=67982792&postcount=3

peterg1965

You have 100%-11.2% of your LTA remaining, so 88.8%. When you next have a crystallisation event the amount of LTA used will be measured aganst the prevailing LTA.

Sterlingtimes

Thank you Jason and Peter.

I am sorry that I duplicated the question raised in another threat. But these responses have been helpful to me.

Kind regards, Sterling