Multiple choice Q&A #2
This week, our answers to advisers’ stand out questions come to you from the letters a, b, c and d. Answers at bottom of this post.
1. When does the £10,000 money purchase annual allowance not apply?
a. When member moves from flexible drawdown to flexi access drawdown
b. When member takes funds via UFPLS
c. When member takes PCLS
d. When member exceeds capped drawdown maximum
2. Member dies aged 74 leaving crystallised fund. Beneficiary designated to receive LSDB by scheme administrator 6 months later. What rate of tax should apply?
b. Beneficiaries marginal rate
c. Members marginal rate