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The Lifetime Allowance is no more, but its legacy lives on in some new rules about how much tax-free cash you can take when you crystallise your pensions at retirement. No surprises - the rules are complex and introduce a host of new impenetrable acronyms. Let me try to walk you through it.
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Chapters:
00:00 Intro
00:33 Confrontation of Problem
01:23 The new rules for tax-free cash
03:08 The Lump Sum Allowance
04:45 Benefits taken before 6th April 2024 - Standard Calculation
06:01 Benefits taken before 6th April 2024 - Alternative Calculation
09:19 Summary
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