DEFERRED members face a 40pc tax charge on trivial commutation payouts following ADay changes, a trustee says.
BETEC Retirement Benefits Plan trustee Derek Whitehead told PP deferred members now had to be paid trivial commutations through the payroll, whereas previously the scheme deducted 20pc of the taxab...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
