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SIPP above old LTA

2»

Comments

  • gm0
    gm0 Posts: 1,389
    Eighth Anniversary 1,000 Posts Name Dropper
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    edited 20 September at 6:08PM

    Excess over a partial crystallisation is still uncrystallised pension benefits. I left my uncrystallised behind in the scheme and moved the activated elements out to their two destinations i.e. partial transfer and FAD crystallisation. Two lots of tfc arrived. Then set investments and started taking drawdown income taxed at marginal rate exactly as you describe.

    You need to read up on the calculation basis for LSA (for the LTA version it would have *frustrated your hopes on it being raised in the future). There never was TFC above the lifetime limit be it standard or protection certificiate or scheme protected %

    *because of the tracking on a % of limit basis

  • ali_bear
    ali_bear Posts: 717
    Fourth Anniversary 500 Posts Photogenic Name Dropper
    Forumite

    If you're doing this in the hope of possibly getting some more TFLS allowance in future rules changes. Why not leave yourself with £1 of TFLS allowance not taken, as this could arguably increase your chances?

    🐻 A little FIRE lights the cigar 
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