Enables you to view LTA details. If the total pension value exceeds the LTA, the value by which it exceeds is shown as well as any tax calculated.

LTA History

Occurrence No.

Display only. The event number.

Calculation Date

Display only. The date on which the BCE occurred.

Manually Updated?

Displays a Y if the screen has been manually updated.

LTA Calc

Display only. The type of benefit calculation used.

Calculation

Display only. The ID and description of the benefit calculation against which the LTA was calculated.

Option

Display only. The ID and description of the benefit calculation option against which the LTA was calculated..

Detail

Note: These fields either display the results of a BCE calculation or can be manually entered. If the entries are as a result of a BCE calculation, you can only amend the Total Pension at Calculation Date field.

Total Pension at Calculation Date

The total value of the pension at the calculation date.

Total Cash Benefits at Calculation Date

The total of all the values that have been flagged as cash type benefits in the calculation.

Total DC Fund Crystallised

The total value of the defined contribution fund that was taken as benefits and therefore crystallised.

Capital Value of Benefit

The capital value of the benefit as calculated from the total value, the total cash benefits and the total DC fund.

Life Time Allowance at Calculation Date

The Lifetime Allowance specified in the statutory tables, as of the calculation date.

Percentage of LTA used at Calculation Date

The percentage of the Lifetime Allowance used as of the calculation date for this benefit calculation. If this exceeds 100%, the pension value is liable for tax.

Total Percentage of LTA used at Calculation date

The percentage of the Lifetime Allowance used as of the calculation date for all benefit calculations. If this exceeds 100%, the pension value is liable for tax.

Tax Charge at 55%

The tax due if the tax if paid as a lump sum. This is calculated as 55% of the amount by which the capital value exceeds the Lifetime Allowance.

Tax Charge at 25%

The tax due if the tax if paid on the pension payments. This is calculated as 25% of the amount by which the capital value exceeds the Lifetime Allowance.

MD651G1