In April 2006, the Government brought in wide ranging changes to the tax regime surrounding pensions - A Day as it was called. Many of the options you will find on this website, such as topping up your benefits or taking a bigger lump sum are now open to more members thanks to this new tax regime.
But this tax regime also imposes certain limits, for example on the size of your ‘pension pot’ or how much of it you can draw as tax free cash. For checking many of the limits, we use a standard formula to work out the value of your pension pot: |
