maximum pension benefits

maximum pension benefits
There are maximum benefits payable under Inland Revenue-approved occupational pension schemes beyond which tax advantages do not apply. In broad terms there are two thirds of the employee's final remuneration, with a lump-sum option (where part of the pension is exchanged for a lump sum) of one and a half times final remuneration up to ₤150,000 limit.

Easyform Glossary of Law Terms. — UK law terms.

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