FAS lump sums will not mean higher tax - Purnell

Speaking in the House of Commons today, he says all those receiving £40,000 or less a year will not move into a higher tax bracket as the Government will not view payments via the FAS as a single payment for the year in which the scheme pays them. Instead, the Government will allocate the payments to the year, or years, in which the individual should have received the original pension payment. The comments follow the decision to extend FAS to levels comparable to the Pension Protection Fund (PPF) last December and give early assistance to those members who had to stop work early due to ...