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  • RE: PCLS on a QROPS

    Hi, I have a UK tax relieved QROPS which on transfer used 73% of my LTA on transfer in 2013. The fund has grown to circa £2m and I would now like to put the pension into payment as a UK tax resident. Since 2013 I have a UK SIPP in payment that has taken my LTA to 101% of IP2016 £1.25m. My QROPS regulations allow for a maximum tax free PCLS of 30% (circa £600K) but would the maximum tax free PCLS be 25% of the fund as a UK tax resident or would the tax free PCLS be limited to 25% of £1.25m (IP2016)? Thank you.