What is a pension protection lump sum death benefit?
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Written on: 03.11.2009 [08:48]
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Davies
Davies
Topic creator
Posts: 3
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Am I the only person alive that doesn’t understand pensions. I thought I was doing so well coming to terms with all the different aspects of pensions but a new one has just cropped up. What is a pension protection lump sum death benefit? Furthermore is it taxed? |
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Written on: 06.11.2009 [12:59]
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Janet
Janet
Posts: 1
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No you are definitely not the only one not to understand. I have been receiving my pension for over 7 years now and I still can’t get my head round it. I found that the HRMC site had lots of useful information but its true that you do have to just sit there and have a good long read, and even then you still might not get it. But if I am not mistaken a protection pension lump sum benefit is when someone had a pension through a defined benefits scheme and then died before their 75th birthday the death benefit will be paid along as a lump sum. Not sure who to and how but I think that’s the main gist of things. About the tax, here is a page I found on the HRMC website: http://www.hmrc.gov.uk/manuals/rpsmmanual/RPSM10105190.htm |
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