Revenue uses 'back door' to impose minimum unsecured pension - A J Bell

Andy Bell, managing director of SIPP administrator A J Bell has pointed out under new laws “any growth in the capital value of an unsecured pension fund will be subject to a further test against the lifetime allowance". This new legislation will impact individuals with large funds wishing to take advantage of the newly-conceived alternatively-secured pension (ASP), issued by way of a ‘technical note’ from the Revenue. The Revenue says moving from unsecured pension into alternatively secured pension will trigger a further benefit 'crystallization' (checking against a lifetime allowance) ...