UK pension "Standard Lifetime Allowance"
Dec 23rd 2019, 7:30 pm
#1
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UK pension "Standard Lifetime Allowance"
I have been receiving monthly payments from a private uk pension for 2 years. I just received a letter from the pension provider saying i have used up 16% of the Standard Lifetime Allowance. The allowance for 2019/2020 is 1.055 million pounds. Can someone please explain how the percentage used is calculated as mine seems very high.
Dec 26th 2019, 7:49 am
#2
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Re: UK pension "Standard Lifetime Allowance"
I have been receiving monthly payments from a private uk pension for 2 years. I just received a letter from the pension provider saying i have used up 16% of the Standard Lifetime Allowance. The allowance for 2019/2020 is 1.055 million pounds. Can someone please explain how the percentage used is calculated as mine seems very high.
Hi
Just a thought does it include life insurance as part of the policy ?
this might eat up the fund
cheers J
Dec 27th 2019, 5:53 pm
#3
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Re: UK pension "Standard Lifetime Allowance"
No there is no life insurance involved. Am i correct in saying that the percentage is calculated as. The total value of the pension pot plus any payments (including lump sum payments) received. then calculated as a % of the 2019/1020 allowance.
Dec 28th 2019, 4:17 pm
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Re: UK pension "Standard Lifetime Allowance"
