Annual Allowance Calculation - Classic, Alpha and AVC

ClashCityRocker1

Trying to get my head round my Annual Allowance before during and after Partial Retirement

Here’s my thinking:

 Pre retirement year

Classic:

Classic Pension at end x19 minus Classic Pension at beginning x 19 r evised upwards by CPI*

Classic pension value devised by multiplying by 16 and adding LS (effectively multiplying by 19)

Alpha

Alpha same as above but multiplying by 16 (no lumps um)

AVC - contributions

Add them together

Partial retirement year

Here gets trickier – my understanding is that I ignore mcloud choice and treat it as though I had stuck with legacy (unless alpha was less than legacy, which it won’t be)

Classic:

1 Starting Classic x 19 revised upwards by CPI

2 Classic pension actually taken IF I HAD CHOSE OPTION A x16 plus lump sum PLUS (classic not taken revised upwards in line with earnings for year x19)

Subtract first figure from second

Alpha:

1 Alpha at beginning x 16

2 (Alpha actually taken - (took all accrued)–presumably revised downwards to Option A) x 16 )plus (pension accrued after part retirement x16)

Deduct 1st from second

AVC straightforward what I paid in

Year after partial retirement

Classic:

1 untaken classic at opening revised by CPI x19

2 untaken classic at end x19

Subtract 1 from 2 if negative can offset against:

Alpha

1 Accrued alpha post partial retirement x16 revised upwards by CPI

2 Total accrued alpha x 16

Deduct 1 from 2

AVC as before

 

Anybody make enough sense of this to tell if I am doing it right?