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Posted Fri, 13 Dec 2024 14:16:33 GMT by dbradsh0208
I currently hold a pension TTFAC certificate, as I started two pensions in 2023 and withdrew a very small Lump Sum from one pension only. The wording on the TTFAC states the %LTA used across both pensions, and the LS allowance used in £. However, one of the pension funds has recently conducted an internal GMP review, and as a result my pension has increased slightly. This means the %LTA used up by that pension is now slightly higher (~0.5%) than the figure used when the TTFAC was issued. In practice I don't think this makes any difference to the amount of protected LS still available. Can anyone tell me if the current TTFAC certificate is still valid? What would be the right course of action to take in this situation? I don't want to hold on to the TTFAC only to be told it can't be used when the time comes to use it in the future. I hope somebody can help with this. Thanks.
Posted Fri, 20 Dec 2024 11:57:48 GMT by HMRC Admin 19 Response
Hi,
You would need to get an updated certificate to show the correct LTA, as this could impact future withdrawals.
Thank you.

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