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Planning for retirement
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For example, your client could retire with a final salary pension, of which part of the benefit is a PCLS which cannot be exchanged for a higher scheme pension even though the client does not want the PCLS. If they then decided to use this PCLS to fund a personal pension, this would not be recycling as the PCLS was not taken with the intention to increase contributions.0 -
Malthusian,
What about this quote?....
"For example, your client could retire with a final salary pension, of which part of the benefit is a PCLS which cannot be exchanged for a higher scheme pension even though the client does not want the PCLS. If they then decided to use this PCLS to fund a personal pension, this would not be recycling as the PCLS was not taken with the intention to increase contributions."0
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