Buyout FAQs

The following questions have arisen as a result of the Plan leaving PPF assessment and member benefits having been secured in a number of different ways

 

QB-1 Can you explain the purpose of the ‘Percentage of standard/protected LTA used’ box on the P60 that I have just received from Nortel Networks L & G. Mine is blank but a former colleague of mine who retired recently says his contains a figure?
Please contact L&G directly on 0345 766 0813 if you need further information about figures on your P60.
QB-2 This question has been removed since it is no longer relevant
No longer applicable
QB-3 Where can I find out more about the Lifetime Allowance (LTA)?
The Lifetime Allowance is a tax limit set by the Government. If the total value of the benefits you receive from all your pension schemes (excluding the State Pension) go above this limit, you may have to pay extra tax.

You can find out more about the Lifetime Allowance by visiting the Lifetime allowance for pension savings page on the Money Advice website.

QB-4 This question has been removed since it is no longer relevant
No longer applicable
QB-5 This question has been removed since it is no longer relevant
No longer applicable
QB-6 This question has been removed since it is no longer relevant
No longer applicable
QB-7 I have received a letter telling me about my additional pension, which also tells me that I have used up additional Lifetime Allowance. What does this mean and what do I have to do now?
Please follow this link to Additional LTA Information