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Relevant Benefit Crystallisation Event question
DreZZ
Posts: 21 Forumite
In August this year my deferred armed forces pension (AFPS75) came into payment when I turned 60 years old. I also received a Terminal Gratuity of 3x the annual pension - this was tax free.
Could anyone help out with a couple of questions I have.
1) I am surmising that the Terminal Gratuity payment is a Relevant Benefit Crystallisation Event (RBCE). Could anyone knowledgeable confirm if this is the case.
2) If this is a RBCE should the scheme administrator (Veterans UK) issue a RBCE statement to me for my records? E.g. statement showing the percentage of the Lump Sum Allowance used.
I know the calculation is straightforward however a statement that I can provide to my existing SIPP administrator would be preferable to me doing the calculation and sending to them.
Thanks for any assistance.
Could anyone help out with a couple of questions I have.
1) I am surmising that the Terminal Gratuity payment is a Relevant Benefit Crystallisation Event (RBCE). Could anyone knowledgeable confirm if this is the case.
2) If this is a RBCE should the scheme administrator (Veterans UK) issue a RBCE statement to me for my records? E.g. statement showing the percentage of the Lump Sum Allowance used.
I know the calculation is straightforward however a statement that I can provide to my existing SIPP administrator would be preferable to me doing the calculation and sending to them.
Thanks for any assistance.
0
Comments
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If this is a RBCE should the scheme administrator (Veterans UK) issue a RBCE statement to me for my records? E.g. statement showing the percentage of the Lump Sum Allowance used.
I would have thought they would, but maybe their admin was still catching up with the new rules ?0
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