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CS Alpha annul allowance Calc

Am I right today's inflation figure lets us do an annual allowance calc for CS Alpha.

(1) Take annual payable amount as at April 23 and uplift by 10.1%

(2) Take (forecast) annual payable at April 24 and uplift by 6.7% (September CPI)

Deduct (1) from (2) gives annual pension input amount?
I think....

Comments

  • hugheskevi
    hugheskevi Posts: 4,346 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 18 October 2023 pm31 4:33PM
    michaels said:
    (1) Take annual payable amount as at April 23 and uplift by 10.1%
    It needs to be pension as at 6 April 2023. It will be close enough to use value from Annual Benefit Statement, and add 6 days of accrual for April 2023. Then uplift by 10.1%.
    (2) Take (forecast) annual payable at April 24 and uplift by 6.7% (September CPI)
    Not quite - it needs to be the value as at 5 April 2024. So you would take the forecast value as at 31st March, apply the inflation uplift of 6.7% and add on the additional 5 days of accrual in April 2024.

    Or you could just ignore the 5/6 days of accrual from both sides of the equation, as they will almost entirely cancel each other out.
    Deduct (1) from (2) gives annual pension input amount?
    Yes.
  • michaels
    michaels Posts: 28,771 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Thanks hugheskevi
    I think....
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