Sorry for thread hijack/drift!
Currently drawing my mil pension: ~£13K jumping to ~£18K (+ 9 years worth of CPI inflation) in a few years when I hit 55 (commuted full amount when I left).
I'm Working for a company that currently provides a final salary pension, also topping up this fs pension with voluntary payments.
From
HM R&C do I simply add my (predicted) RAF pension (in say 15 yrs time when I intend retiring) to my expected pension from my current employment, again in 15 years time, to get a final combined annual pension which should, if it doesn't exceed the figures at the link (£62,500 pa if you don't take a lump sum, £46,875 pa if you take the 25 per cent maximum tax free lump sum), and all other things being equal, not exceed the LTA?
Is there a formula for how much a mil pension is worth in terms of LTA, and if applicable does this amount reduce as the mil pension is drawn? Does the lump sum I took when I left the mil have to be factored in?
Finally will the state pension, assuming it isn't means tested by then, affect the LTA too?
I'm rather concerned that at today's rates the total of my two pensions will be very close to the ~47K, admittedly I nice position to be in, particularly if I continue to keep up my current level of voluntary pension contributions, and that a state pension will certainly take me over the threshold.