SCSB Calculation

Hi

I am working out the SCSB claculation and am having issues with the Present Value of Tax Free Lump Sum. Pension Provider has provided 3 different figures and each is higher than the next!!

My package was base salary + bonus. Is the PVTFLS (C as per formulae) worked out just on Base or is it done on total package figure?

(the average salary figure over 3 years was based on avg of total package)

Regards

Michael

If your scheme permits you to take maximum tax free sum on retirement ( most do) - then it will be based on your total taxable earnings - not base salary.