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Section C Lump Sum
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freespeech
- MDEC
- Posts: 762
- Joined: 28 Jun 2007, 16:35
Section C Lump Sum
What £ of the lump sum bonus, if any, is tax free? Is it also NI free?
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BeamishStout
- Posts: 387
- Joined: 19 Sep 2012, 14:42
- Gender: Male
Section C Lump Sum
Pension Commencement Lump Sum is 25% of your pension pot (I believe) and can be taken free without deductions of tax or NI so long as it does not exceed your Lifetime Allowance.freespeech wrote:What £ of the lump sum bonus, if any, is tax free? Is it also NI free?
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freespeech
- MDEC
- Posts: 762
- Joined: 28 Jun 2007, 16:35
Section C Lump Sum
Thanks......and with the LTA for 2020/21 over £1million I doubt anyone on this site will be troubled by that!BeamishStout wrote:Pension Commencement Lump Sum is 25% of your pension pot (I believe) and can be taken free without deductions of tax or NI so long as it does not exceed your Lifetime Allowance.freespeech wrote:What £ of the lump sum bonus, if any, is tax free? Is it also NI free?