DB IP14

Author
Discussion

n5tew

Original Poster:

323 posts

233 months

Tuesday 31st March 2015
quotequote all
Trying to calculate LTA - is it simply projected pension x 20 on DB scheme, or does any allowance need to be deducted for 25 of 38 years service?

Mine-field......

Ginge R

4,761 posts

219 months

Wednesday 1st April 2015
quotequote all
Stew,

Don't focus so much on the length of service; calculate the sum of twenty times your annual pension and (if an unfunded public sector scheme, such as AFPS) add the tax free cash. Your scheme online calculator should allow you to request the calc, and might be able to offer you an approximation.

Any doubts, contact the scheme administrators. Don't forget to add too, any other pension savings that you've picked up along the way.