Income Drawdown Flashcards
1
Q
What is BCE 1 and how is it valued for LTA?
A
Capped or FAD crystallisation
FAD = £ Capped = 25 times 80% of the 150% basis amount i.e 120% (post 05/04/15) or 25 times max GAD for pre 05/04/15
2
Q
Triggers for MPPA (8)
A
Takes income from FAD UFPLS Convert capped to FAD Breaches Max GAD on Capped TFC in excess of £375k taken with PP Flexible Annuity Scheme Pension with 11 or less members - SSAS Payment of the above from a QROP
3
Q
Capped DD Max GAD calculation
A
Level Annuity Based on age No guarantees Payable in advance Gilt yield - 15 year gilt yield published on the 15th day of preceding month rounded down to nearest 0.25%
4
Q
4 Forms of FAD
A
Members
Dependant’s
Nominee’s
Successor’s
