Triviaity Payment

[Boilerman]

Hi all,

I'm a little bit confused, possibly an A.G.E. thing, and I can't seem to find any answers here, again, possibly an A.G.E thing

I have a very small fund with an occupational pension, it will pay £54 P/A, or if I take a one of Small Triviality Payment the amount would be £1,448.05 less TAX of £217.20 making a total £1,230.85.

I am Claiming Pension Credit of £740.00/4 weekly, and two other pensions one pays me £42.15/month the other £80.77/month.

The are notes in the paperwork that refers to:-
* Lifetime Allowance declaration
* Percentage of standard lifetime allowance that the total benefit taken represents

Also I don't have a big enough private income to attract inland revenue payments, even with the cash sum I could take, question will I still have to pay tax on the amount?

any help would be very much appreciated

Regards

Ken

[honeybee13]

Hello there.

I've moved your thread from the media subforum to the main pensions one for further advice.

HB