Lifetime Allowance Sample Clauses

Lifetime Allowance. If at 5 April 2006 you were taking a pension income from any pension scheme go to Section 5 If you have previously taken benefits from any pension scheme since 5 April 2006 go to Section 6 If this is the first time you have ever taken benefits from any pension scheme go to Section 7 5 Pre 6 April 2006 Benefits If at 5 April 2006 you were taking a pension income please provide details below; otherwise go to section 7 PLAN/SCHEME NAME PLAN/SCHEME TYPE MAXIMUM ANNUAL INCOME* gross p.a. gross p.a. gross p.a. *This may be different to the actual amount being taken If you have taken benefits since 5 April 2006 please provide the total percentage of lifetime allowance used to date* % *If you were taking a pension income prior to 6 April 2006 we will assume the percentage of lifetime allowance used includes this. If you have Primary Protection with lump sum rights over £375,000 on 5 April 2006 please provide the following details: DATE OF BENEFIT CRYSTALLISATION EVENT AMOUNT OF PENSION COMMENCEMENT LUMP SUM PAID Benefit Payment Form Brooklands SIPP 7 Benefits Required IMPORTANT Taking benefits from your pension under flexi-access will limit the amount you can contribute to your pension. If you are unsure as to the circumstances that will limit the level of contributions that you can make please refer to your financial adviser. Please confirm the benefits required Tax Free Cash I want the maximum* Yes No * 25% of the active fund value. I want a specific amount* £ * This must be within 25% of your tax free cash allowance. Pension Income (this may be subject to income tax) I want the maximum* Yes No * If your pension in in capped drawdown. I want a specific amount £ gross p.a. I want the income paid Monthly Quarterly Half yearly Annually One off ad hoc payment I want it paid In Arrears In Advance If a pension is required, the cash funding this payment must be available in the SIPP Xxxxx Xxxxx bank account before midday on the 10th of the month in which the pension payment is being paid. This will allow sufficient time to include the pension payment on the PAYE payroll which runs on the 15th of the month. The funds may take a few days thereafter to reach your personal bank account. Exhaust I want to take the remaining tax free cash and close the SIPP* Yes No * This may have tax implications. Benefit Payment Form Brooklands SIPP
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Lifetime Allowance. The value of your individual fund being used to provide benefits must be tested against an allowance called the lifetime allowance, set by HMRC. If the lifetime allowance is exceeded, there will be a tax charge. ESL will deduct any tax charge due from your individual fund and pass this to HMRC. For further details of the circumstances in which this tax charge will arise, please contact Xxxxxx & Co. Also, your lump sum rights may be restricted if your benefits exceed the lifetime allowance.
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Lifetime Allowance. The value of your individual fund being used to provide benefits must be tested against an allowance called the lifetime allowance, as set by the Finance Act. If the lifetime allowance is exceeded, there will be a tax charge.
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Lifetime Allowance. We strongly recommend this section is completed with the help of a financial adviser
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Lifetime Allowance. A Member’s benefits will not start before age 75 unless the Member has provided evidence to the satisfaction of the Trustee of the amount of Lifetime Allowance that is available to him or her (if any). If a Member whose benefits have not started reaches age 75, and the Trustee is unable to verify the amount of Lifetime Allowance available to the Member, the Trustee will (unless it decides otherwise) treat the Member as if he or she had no Lifetime Allowance available. The Trustee will deduct the Lifetime Allowance Charge from the Member’s Personal Retirement Account and will account to HMRC for the tax due.
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Related to Lifetime Allowance

  • TIME ALLOWANCE 5.01 (a) An employee having a grievance or complaint, or a potential grievance or complaint, may confer with his Union Xxxxxxx or with Management during his scheduled working hours, and

  • Shoe Allowance The Employer will provide reimbursement to full time employees who have completed probation and who are employed in the kitchen and stewarding departments, once per year in the amount of $60.00 and once every two years in the amount of $60.00 for maintenance and banquet housepersons. The amount shall increase to $75, effective January 1, 2007. Employees will receive said amount as long as the shoes are approved by the employer and as long as the shoes are worn on the job. Payment will be made on or about July 1 upon presentation of proof of purchase.

  • Travel time allowance All employees shall be paid an allowance (See Appendix A) for each day on which they present themselves for work. The allowance shall also be paid for rostered days off.

  • Per Diem Allowance A per diem allowance of seven dollars and thirty-five cents ($7.35) may be claimed for each twenty-four (24) hour period while away from home.

  • CAR ALLOWANCE The Company shall provide the Executive an automobile allowance of $750 per month during the term of Executive’s employment hereunder.

  • Annual Allowance The Corporation shall pay to the Executive, in cash, in a lump sum, on the Payment Date an amount equal to two times the annual allowance to which the Executive is entitled as of the date of the Date of Termination (or, if higher, as of immediately prior to the Effective Date).

  • Mileage Allowance The state agrees to seek continued funding to provide for the payment of a mileage allowance for the use of privately owned vehicles for official travel at the rate provided in section 112.061(7)(d)1., F.S.

  • Vacation Allowance Employees in permanent positions are entitled to vacation with pay. Accrual is based upon straight time hours of working time per calendar month of service and begins on the date of appointment to a permanent position. Increased accruals begin on the first of the month following the month in which the employee qualifies. Accrual for portions of a month shall be in minimum amounts of one (1) hour calculated on the same basis as for partial month compensation pursuant to Section 5.6 of this MOU. Vacation credits may be taken in one (1) minute increments but may not be taken during the first six (6) months of employment (not necessarily synonymous with probationary status) except where sick leave has been exhausted; and none shall be allowed in excess of actual accrual at the time vacation is taken.

  • Retirement Allowance Prior to issuing notice of layoff pursuant to article 9.08(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 9.08(a)(ii). An employee who elects an early retirement option shall receive, following completion of the last day of work, a retirement allowance of two (2) weeks' salary for each year of service, plus a prorated amount for any additional partial year of service, to a maximum ceiling of fifty-two (52) weeks' salary.

  • Separation Allowance 13.01 Should it become necessary to close the plant or a portion of the plant and it is not expected that those affected will be re-employed, a separation allowance will be paid to employees subject to the following:

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