Treat as Capital?

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  • #31938
    tjq
    Participant

    Claimant has a Standard Life Retirement Annuity Contract which is valued at £19,822.72 as of 11/08/10 but has not been claimed yet. The claimant’s expected retirement date is her 60th birthday on 16/06/2011. I have phoned Standard Life who have confirmed that these pensions can be claimed from the age of 55 onwards. Should this be treated as capital?
    Many Thanks

    #89328
    chris harvey
    Participant

    No for working age claims you cannot use potential income from pension schemes as notional income (reg 42) and the capital value of annuities contracts are disregarded (schedule 6). You would only count them if they are actually converted into an annuity.

    #89329
    tjq
    Participant

    Thanks for the reply Chris

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