Sarah wants to retire when she reaches age 60. She has accrued - TopicsExpress



          

Sarah wants to retire when she reaches age 60. She has accrued Pensionsbenefits within a number of different personal Pensionsplans the total value of which amounts to £16,000. Can she commute all of her Pensionsschemes under the triviality rules • No, as the Pensionsfrom these funds would exceed £250 pa • No. Triviality can only be exercised from age 65 onwards • Yes, up to 25% of the Pensionsbenefits would be paid tax free with the remainder being taxed as earned income • Yes. The entire payment would be tax free. Want to know the answer?
Posted on: Thu, 18 Jul 2013 08:34:12 +0000

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