What are the rules for tax free lump sum from a buyout bond? Are both options available?
Option 1. 1.5 times salary
or
Option 2. 25% of the pot
Is the calculation of salary based on pensionable salary, or salary on which USC was paid (including BIK and bonuses) in option 1?
I want to get an ARF and NOT an annuity. Must I therefore take option 2?
Option 1. 1.5 times salary
or
Option 2. 25% of the pot
Is the calculation of salary based on pensionable salary, or salary on which USC was paid (including BIK and bonuses) in option 1?
I want to get an ARF and NOT an annuity. Must I therefore take option 2?