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Thanks for this steer to where to find information which I have now scanned and it is helping a bit but my specific questions remain unclear and it would be great if you could clarify further. . I am still not clear whether my lump sum will be subject to tax if the lifetime allowance is exceeded - initial question: how the tax is taken e.g. is it from the lump sum, the pension (if so at what rate?) or both .
I am not aware that any protection has ever been applied and so assume that it will be possible to apply for individual protection. However please can you clarify from my original question whether I have to apply and get a response before I take my pension?
Looking at the form I had not taken any pensions before April 2014 and have no outside UK pension arrangements so it looks like I only need to complete the section C: uncrystallised amount in uk pension schemes at 6 April 2014. However how do I calculate that figure?
Sadly as I was not a member of the civil service union when in post I cannot now apply and access their advice.
Civil service and the S Yorkshire Pensions are defined benefit scheme. I want to take £100K of the £249K lump sum available and then take the rest as pension. If I did this without protection would both lump sum and pension be subject to tax? If I use the lump sum to help buy a house is that ok?
Is it the case that the whole lump sum and the whole pension are subject to tax at 55% and 25% respectively?
If the AVC remains uncrystallised paid does the amount of tax to be paid have to wait until that is taken?
Presumably I need to ask for the valuation of the uncrystallised pension amounts as at 6 April 2014 from each of the pension providers and for my AVC? Would CAB or who else (happy to pay) provide assistance with completing the forms and deciding on the most appropriate balance of lump sum and normal tax payable after that?