Examples of Lifetime Allowance in a sentence
CETVs are worked out in accordance with The Occupational Pension Schemes (Transfer Values) (Amendment) Regulations 2008 and do not take account of any actual or potential reduction to benefits resulting from Lifetime Allowance Tax which may be due when pension benefits are taken.
CETVs are calculated within the guidelines and framework prescribed by the Institute and Faculty of Actuaries and do not take account of any actual or potential reduction to benefits resulting from Lifetime Allowance Tax which may be due when pension benefits are drawn.
I confirm that if the transfer value is over my available Lifetime Allowance, the excess value will be subject to a lifetime allowance charge and I understand that charge will be deducted before any overseas transfer charge is deducted and before the transfer payment is made.
Tax charges You should be aware of the Annual Allowance Charge and Lifetime Allowance Charge which can be imposed in prescribed circumstances.
Reaching age 75 When you reach age 75, we, in our capacity as scheme administrator, are required by law to conduct a Lifetime Allowance test on your account(s).