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| . |
2011
/ 12
|
2010
/ 11
|
| Lifetime Allowance* |
£1,800,000
|
£1,800,000
|
| Annual Allowance |
£50,000
|
£255,000
|
|
Maximum
age for tax relief
|
74
|
|
Minimum age for taking benefits |
55
|
|
Maximum
age for taking benefits (subject to transitional protection for excess
amount).
|
75
|
|
Lifetime
allowance charge - lump sum paid
|
55%
|
|
Lifetime
allowance charge - monies retained
|
25%
|
|
on
cumulative benefits exceeding
|
£1,800,000
|
|
Maximum
tax free lump sum
|
25%
|