Offer from Morrisons Pension

xylophone

Is there any situation this could trigger the MPAA

 As I understand it, if the WULS is from a DB scheme, while it will be taxed as 25% tax free and the balance taxed as income, taking such income from a DB scheme does not trigger MPAA.

If the WULS is from a Money Purchase Scheme, there are circumstances where MPAA would be be triggered.

BungalowBel

Thank you all for your helpful comments. 

MeadowsVale

I've received this letter too. My offer is approx. £3500 on a approx. £6500 pot (I don't have the letter to hand and can't remember the exact figures to post here).

I don't know whether I should just leave it or take the WULS and put it into my HL SIPP, but I'm drawing towards just leaving it be and letting it transfer from the RSP Section to Aviva.

The RSP Section closed in 2018 and Morrisons put everyone on a new pension scheme although with lesser benefits if I remember correctly. I left Morrisons in 2019.

digitalhelluk

Has anyone received their offer letter more recently? I'm waiting for an offer and not got any letter so far. They told me on the phone that they are still sending letters out but cannot tell me if I will be getting one or not and just have to wait. Would coem in so handy right now