Keeley Paddon: What are the key points of Pensions Schemes Newsletter 78?

Serious ill-health lump sums, tapered annual allowance and UFPLSs

clock • 4 min read

No doubt HMRC's latest Pension Schemes Newsletter is on your holiday reading list but, until you get around to unpacking it, Keeley Paddon offers this summary of its key points

At the end of May, HM Revenue & Customs (HMRC) issued Pensions Schemes Newsletter 78 - and it was substantial, to say the least. I would always recommend reading HMRC updates in full but, until you have enough time to tackle it yourselves, here is a summary of the key points. Serious ill-health lump sums - the rules have changed again The Finance Bill, introduced to Parliament on 12 April 2016, extends the circumstances in which a serious ill-health lump sum may be taken. Currently, even if the other criteria are met, a serious ill-health lump sum cannot be taken from an arrangement ...

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