Can government retrospectively change tax-free lump sum allowance in the budget?

Albermarle

Ponsienella2 said:

Albermarle said:

double_dutchy said:

Ponsienella2 said:

My husband took a £47k rax-free lump sump from one company pension when he was 60. 

Was this the maximum lump sum he could take (i.e. 25% of the pension pot)?

I previously took a lump sum from my pension, but not the maximum amount available. For lump sum allowance purposes, though, I have been deemed to have already taken 25% of the total pot.

There can be some complications between the old LTA calculation and the new LSA. Suggest you start a new thread in the Pensions forum, giving the exact details of what has happened.

What more details are required?

I was not replying to you, but to the other poster.

Ponsienella2

Albermarle said:

Ponsienella2 said:

Albermarle said:

double_dutchy said:

Ponsienella2 said:

My husband took a £47k rax-free lump sump from one company pension when he was 60. 

Was this the maximum lump sum he could take (i.e. 25% of the pension pot)?

I previously took a lump sum from my pension, but not the maximum amount available. For lump sum allowance purposes, though, I have been deemed to have already taken 25% of the total pot.

There can be some complications between the old LTA calculation and the new LSA. Suggest you start a new thread in the Pensions forum, giving the exact details of what has happened.

What more details are required?

I was not replying to you, but to the other poster.

Oops. I'm very sorry.