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Can someone explain this please

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jchewitt1967
Posts: 26
Joined: 15 Sep 2021, 14:38
Gender: Male

Can someone explain this please

Post by jchewitt1967 »

Got my age 65 options, but don't understand my choice. What I want to do is take my highest lump sum and ALL. Of my cash balance. Option 2 doesn't seem to include cash balance??
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Steve_claret
MAIL CENTRES/PROCESSING
Posts: 324
Joined: 17 Dec 2011, 14:53
Gender: Male

Re: Can someone explain this please

Post by Steve_claret »

Have you rung the Pension Centre?
Pretty sure DBCBS is not part of the quote and you will get that later.
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freespeech
MDEC
Posts: 762
Joined: 28 Jun 2007, 16:35

Re: Can someone explain this please

Post by freespeech »

Steve_claret wrote: ↑
26 May 2023, 13:08
 Have you rung the Pension Centre?
Pretty sure DBCBS is not part of the quote and you will get that later.
Yes, this is the utter stupidity of the current approach. You get DBCBS and AVC's included only after you commit to a choice and take your pension early. In this example the OP must be at NRA65 agee is DBCBS is included. If you choose option 2 then it says further down what amount of cash balance do you want to take (25% is tax free, the rest is taxed).
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