Please note: The Auto-enrolment sub-board is now closed. If you have a question around pensions, please post in the Pensions, Annuities and Retirement Planning board.

Lifetime allowance

In 2013 I was fortunate enough to take my fire service pension. I took the max commutation.
My fund represented 82% of my LTA.
I have made no pension contributions to any fund since 1998.
i worked for an insurance company for a few years and have been advised that I have a small pension from that employment. It represents less than 2% of the LTA ( high I assume is the new lower limit)
My question / concern is will this incurr tax on the lump sum (<£6k) when I reach 65 in November?

Comments

  • My question / concern is will this incurr tax on the lump sum (<£6k) when I reach 65 in November?

    Presuming you mean the Tax Free Lump Sum, then no.

    BTW, 2% of (current) LTA is £20600, TFLS on that would be £5,150. (£6K would require 2.3%)
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
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