Benefits secured Flashcards
Does a trivial commutation or small pot trigger a BCE?
No
What is the maximum value of all RPS rights that allows an individual to take a trivial commutation?
£30k
What is the maximum value of an individual pension that an individual can take a small pot from?
£10k
What is the maximum number of small pots payments that can be made from non-occupational schemes?
3
What death benefits do HMRC allow for scheme pensions?
Survivors/dependants pension
Guarantee period up to a max of 10 years
Capital protected lump sum
In what situation could an annuity trigger the MPAA?
If it’s a flexible annuity
What is the difference between an enhanced and an impaired annuity?
Enhanced is underwritten based on general medical questions, whereas impaired is individually underwritten based on a specific medical condition.