5 Pension advice for Later Life Clients

Question 1

Need for capital pension options and implications

Answer 1

UFPLS - triggers MPAA, 25% TFC. excess tax 55%, mth 1 PAYE
FAD as above
PCLS - 75% with be designated Drawdown, will not trigger MPAA
Capped limit 150% GAD

Question 2

Death Benefits of scheme pension

Answer 2

can provide spouse, dependant pension for life

Question 3

Death Benefits UFPLS

Answer 3

income without tax before age 75
Marginal rate post 75
Can pass to next generation if designated to drawdown funds

Question 4

Review should take into account

Answer 4

health
ATR
legislation
fund performance
PCLS/Capital
Annuity
Spouse
New Products
Tax
State Benefits