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LTA advice
Retirement2026
Posts: 4 Newbie
I cashed in my DB pension in 2018 and took a lump sum of £158k. I am leaving the civil service in the next 12 months, aged 66yrs (have been there 25 years so primarily classic with a few years of Alpha) and have the option of a lump sum of £160k. Do I fall foul of the LTA's? Any adive or guidance really appreciated. Thank you
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Comments
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Nope, you can still be a member of the Lawn Tennis Association.
As to your LTA question it was abolished 9 months ago and wondered how you hadn't picked this up!
"No likey no need to hit thanks button!":pHowever its always nice to be thanked if you feel mine and other people's posts here offer great advice:D So hit the button if you likey:rotfl:0 -
But it was replaced by a few different things, including the Lump Sum Allowance of £268275, which looks like it could be a problem for the OP (£158k + £160k lump sum = £318k).Simon11 said:Nope, you can still be a member of the Lawn Tennis Association.
As to your LTA question it was abolished 9 months ago and wondered how you hadn't picked this up!
Actually re reading and I made the assumption the lump sums mentioned are tax free, I'm not so sure now for the first cashing in of the DB ?
Are the lump sums you talking about the Tax free lump sums, or when you said cash in a DB thats the CETV you got ?
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Hi Simon!! Glad I can keep my tennis membership
I understand the rules have changed I just don't understand how I am affected. Both figures I quoted relate to the maximum 25% tax free lump sum from each of my pensions - one I have recieved already (£158K) the other I am thinking about taking in Jan 2026. I am thinking whether I should consider reducing the second lump sum to stay within the £268k allowance. Thank you 0 -
Anything above the £268k will be charged at your marginal rate of tax, so yeah probably better to commute some of that lump sum into the DB.Retirement2026 said:Hi Simon!! Glad I can keep my tennis membership I understand the rules have changed I just don't understand how I am affected. Both figures I quoted relate to the maximum 25% tax free lump sum from each of my pensions - one I have recieved already (£158K) the other I am thinking about taking in Jan 2026. I am thinking whether I should consider reducing the second lump sum to stay within the £268k allowance. Thank you1
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