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14th December 2017
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This thread: Annual allowance revised pip dates Post No.
     
22/02/2017 18:23
Sadsyndrome


Post Count: 1
Join Date: 22/02/2017

 Hi can someone confirm something for me?

i have a care db pension for which scheme year is 1st April to 31st March.

Prior to 2016  rpi uplift was applied 1st April (day after scheme year ended). This meant it was not included in the AA calculation thus reducing the amount of Aa allowance used.

However, PIP is now 6th to 5th April, so the RPI uplift is part of the final pension benefit oF any given year and used to calculate AA.

For example, if Pension is 20k and rpi is 3% this means an additional £9600 of AA usage (20k x .03 x 16).

are my assumptions correct and if so is it possible to defer the rpi uplift to the day after the PiP (6th April) to revert back to the pre 2016 calculations?

 

 

 

 

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