March PKT

The maximum pension commencement lump sum (PCLS) is being fixed at £268,275 irrespective of the member’s protection certificate.

• True

• False

The Annual Allowance (AA) will decrease from £60,000 p.a. to £40,000 p.a. effective 6 April 2023

• True

• False

Trivial commutation amount is entirely taxed if the member is a pensioner

• True

• False

When can a member retire due to serious ill health?

a) are not expected to live for longer than a year

b) have not yet started their pension

c) have used up all their lifetime allowance

• a & b

• a, b & C

• a & C

• b & C

What is the disclosure date for the Early Retirement & Ill health retirement cases? Benefit event crystallization date (BCE)

• 1 month after BCE date

• 2 months after BCE date

Death cases which are referred to the trustees should be pended for 20 days and if no response received once the case is unpend, we need to raise a referral.

• True

• False

How a queue should be managed?

• Clear checking first, then processing, then completions

• Clear processing first, then checking, then completions

• Clear processing first, then checking, clear completions simultaneously

• Clear checking first, then processing, clear completions simultaneously

If we are making payment to the countries of the European Union/European Economic Area the charges of the swift payment would be paid by the beneficiary

• True

• False

What is the generic password we need to use while encrypting the docs

• last 4 characters of the member’s NI Number, date of birth in DDMM format and %.

• last 4 characters of the member’s NI Number, date of birth in DDMM format and @.

• date of birth in DDMM format, last 4 characters of the member’s NI Number, and

• date of birth in DDMM format, last 4 characters of the member’s NI Number, and %.

GMP is revalued using complete months

• True

• False