Lump Sum Allowance & Lump Sum And Death Benefit Allowance
Lump Sum Allowance & Lump Sum And Death Benefit Allowance
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IJWS15

Original Poster:

2,064 posts

103 months

Thursday 2nd October
quotequote all
I am confused and the gov website doesn’t help with the search tool giving me 388 pages of hits!

I have a DB pension (actually 4) in payment and am looking to start drawdown from a DC pension. The DC provider wants to know what percentage of these allowances is used by each current pension.

First one has provided a single figure which they say is used against each allowance. I took 25% lump sum and reduced pension. The providers answer doesn’t make sense to me.

Can anyone explain or point me at at explanation of how these are calculated?

This DB pension is administered by one ISIO office that I have no confidence in, another is administered by another ISIO office so will have to see what they say.

IJWS15

Original Poster:

2,064 posts

103 months

Thursday 2nd October
quotequote all
As expected the other ISIO office has a different approach and just quotes the percentage of lifetime allowance when pension put into payment. Both put into payment October 23.

Edited by IJWS15 on Thursday 2nd October 14:41

IJWS15

Original Poster:

2,064 posts

103 months

Saturday 4th October
quotequote all
Thanks