We have completed the tax year update for the Avail Suitability System and these changes are now live.
Enhancements are as follows:
• An enhanced Full Options at Retirement report.
• Lifetime Allowance of £1.25m and noted as reducing to £1m from 2016/17.
• The MPAA reduction to £10,000 under certain circumstances is noted where required.
• Introduction of the Uncrystallised Funds Pension Lump Sum in the Full Options at Retirement reports.
• New Flexi-Drawdown section in the Full Options at Retirement report.
• Updated tax treatments on death to all products within the Full Options at Retirement report.
• New Funded Nursing Care rates in the Long Term Care report.
• Reference to new tax year 2015/2016 throughout the system.
• All provider information updated.