Understanding tax allowances in the LGPS

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About this event

This training is aimed at pension administration staff in England and Wales. Some experience of administering the LGPS is desirable.

Scottish LGPS administrators are welcome to attend but should be aware that the exercises and examples that use factors will be demonstrated using English and Welsh factors.

The course is based on overriding tax legislation. Scheme employer staff would not benefit from attending.

Course content

  • Annual Allowance:
    The basics
    Calculations
    Scenarios
    Re-opening PIPs
    Pension Savings Statements
    Tax charges and options
    Scheme pays
    Other considerations
  • Lump Sum Allowance and Lump Sum and Death Benefit Allowance:
    The basics
    The calculation
    Exceeding the LSA
    Exceeding the LSDBA
    Relevant Benefit Crystallisation Events
    Tax charges and reporting
    Protections and how they work
  • Inheritance Tax:
    The procedure

 

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