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Document How much of my pension can I allocate?

There are minimum and maximum amounts that you can allocate to a person who is dependant on you.
The minimum is an amount that cannot be trivially commuted to a one-off payment- this amount varies in line with the Lifetime Allowance.
The maximum amount of your pension that you can allocate is one third of your pension provided the pension the receiving person will get dos not exceed your remaining pension. The remaining pension payable to you must be at least equal to your Guaranteed Minimum Pension (GMP).

A member must allocate an amount sufficient that the pension received by recipient of the allocation cannot be trivially commuted (reg J2 (3)). If the allocation is in respect of the member’s survivor, then the pension they will receive can count towards the minimum amount, however, there is no guarantee the allocation will be in respect of an individual who will receive some form of survivor pension.

allocation lta, lta, life time allowance, allocation,
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