Three obscure pension questions! Someone will know...

Albermarle

Climberjohn said:

Marcon said:

Climberjohn said:

- Someone must have a view on Q1?

Same view I had before: use someone who is insured to advise you (so if they get it wrong, you've got a comeback). A straw poll on the Internet isn't a good substitute, and surely given the amounts involved you wouldn't rely on it?

Well, it's a pretty clear cut and dried item so I figured someone will have been down that road.  If these boards are just feeders for IFAs, that's fine...but I imagined it was people sharing their experiences.

It is not cut and dried. As explained in an earlier post it is one of many items relating to LTA abolition, that has been going through various stages of government analysis and proposed future legislation. Then the interpretation of the legislation has to be agreed by financial advisors, pension providers, HMRC  etc to avoid confusion in the general minefield of pension legislation.
We seem to be getting there, and probably in the next few months there will be a cut and dried answer.

zagfles

Climberjohn said:

Grumpy_chap said:

I don't see anyone turning this into a feeder for IFA's.

You asked, as you acknowledge in the thread title, "obscure" questions and, as indicated by another poster, the answer to one of those questions has only recently become knowledgeable to professionals in the business.  The information and any recommendation needs to be given to you based upon a proper analysis of your specific circumstances and that will require paid professional service by a company that carries the necessary insurances in case of error.  Anyone giving you a rough answer via an online forum based upon limited information may well lead you down the wrong path and result in you suffering financial losses.  Hence, those that do know, have held back.  Those that made this comment in this regard on this thread are very helpful individuals and share information where they can meaningfully do so without excessive exposure, so I trust their responses.

Lol.  The rules are the rules...they don't vary with my circumstances.  Q1 is a pretty cut and dried situation.  I'm sure those folks "in the know" would be able to articulate the principles of the rules without giving advice.  Perhaps I should change my question to:
"I have found various guidance documents from HMRC on the issue described.  Where do they post the most up to date guidance as I don't wish tot have missed something in my own research"

See the links in the linked thread. Eventually it should all be in the HMRC Pension Tax Manual https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual

But for now see the newsletters in https://www.gov.uk/money/business-tax-pension-scheme-administration-pension-scheme-trustees

Also see various articles in the press and soon I'm sure all the pension providers will publish guides on this. But as the legislation was only passed a few days ago it may take a while.

Climberjohn

zagfles said:

Climberjohn said:

Grumpy_chap said:

I don't see anyone turning this into a feeder for IFA's.

You asked, as you acknowledge in the thread title, "obscure" questions and, as indicated by another poster, the answer to one of those questions has only recently become knowledgeable to professionals in the business.  The information and any recommendation needs to be given to you based upon a proper analysis of your specific circumstances and that will require paid professional service by a company that carries the necessary insurances in case of error.  Anyone giving you a rough answer via an online forum based upon limited information may well lead you down the wrong path and result in you suffering financial losses.  Hence, those that do know, have held back.  Those that made this comment in this regard on this thread are very helpful individuals and share information where they can meaningfully do so without excessive exposure, so I trust their responses.

Lol.  The rules are the rules...they don't vary with my circumstances.  Q1 is a pretty cut and dried situation.  I'm sure those folks "in the know" would be able to articulate the principles of the rules without giving advice.  Perhaps I should change my question to:
"I have found various guidance documents from HMRC on the issue described.  Where do they post the most up to date guidance as I don't wish tot have missed something in my own research"

See the links in the linked thread. Eventually it should all be in the HMRC Pension Tax Manual https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual

But for now see the newsletters in https://www.gov.uk/money/business-tax-pension-scheme-administration-pension-scheme-trustees

Also see various articles in the press and soon I'm sure all the pension providers will publish guides on this. But as the legislation was only passed a few days ago it may take a while.

many thanks