HM Revenue & Customs (HMRC) has clarified its position on why certain retirees using standalone lump sums trigger a reduced annual allowance.
The minutes of a pensions industry stakeholder forum meeting stated a rule is needed to tighten the practice of using a standalone pension lump sum to increase pension contributions and gain additi...
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
