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Maximum Tax Free AVC with LGPS
bonnyrigger
Posts: 109 Forumite
Or I presume any other DB pension, can I just get the maths on my spreadsheet checked please.
Example:
DB Pension = 15000, DB Factor = 20, so Total Value is 300,000.
Excel Fomula:- Max AVC Tax Free = (Total Value+Total Value/3)/4, in the above case that works out at 100,000.
Thanks in anticipation - it helps me plan AVC contribution levels.
Example:
DB Pension = 15000, DB Factor = 20, so Total Value is 300,000.
Excel Fomula:- Max AVC Tax Free = (Total Value+Total Value/3)/4, in the above case that works out at 100,000.
Thanks in anticipation - it helps me plan AVC contribution levels.
:beer::beer::beer:
0
Comments
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Pension x 20
Automatic lump sum (if any) x 1
AVC fund x 1
Total x 25% = maximum tax free lump sum under HMRC regs.0
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