CMS and notional income

[Roblox]

Thanks Ash

It does seem a very much case by case basis.

 

[NewcastleBrownAle]

Question, how are you getting 150 lump sum tax free? Reason I'm asking my works pension state anything 30k or under is tax free and taxed on amount above that

I'm also sure that based on 150k only the first 25% is tax free,75% is then taxed accordingly. Correct me if I'm wrong.

I have a huge NHS pension and the 150k is the maximum tax free lump sum, if I choose to take that option, with a slightly reduced pension. I have paid 12.5 % of my earnings into it, for almost 40 years, so yes it seems big, but these are within the pension rules.

 

[Roblox]

I have a huge NHS pension and the 150k is the maximum tax free lump sum, if I choose to take that option, with a slightly reduced pension. I have paid 12.5 % of my earnings into it, for almost 40 years, so yes it seems big, but these are within the pension rules.

Yeah 25% under current rules is tax free up to the lifetime annual allowance which is approx 1 million

I think the lifetime allowance is abolished come April