Years 2011–12 onwards

The total amount of drawdown pension (see ¶392-450) which can be paid by a money purchase or cash balance arrangement (see ¶375-750 and ¶375-800) is not to exceed 100 per cent of the basis amount for drawdown pension years (see ¶392-650) ending on or straddling 25 March 2013, 120 per cent in relation to years beginning on or after 26 March 2013 and 150% for years beginning on or after 27 March 2014 (FA 2004, s. 165(1)).

Want to read more?

This content requires a Croner-i Tax and Accounting subscription.

Existing subscriber? Log in

No subscription?

Contact us to discuss your requirements.