Who needs a transitional tax-free amount certificate TTFAC?

22 May 2024

Since the abolition of the pensions Lifetime Allowance and the introduction of the lump sum allowance and lump sum and death benefit allowance, a key question we have received at our Technical Insight Seminars is when a client needs to apply for a transitional tax-free amount certificate (TTFAC).

The Verve Group has put together a pdf flow chart explaining who needs a certificate, which they have kindly allowed us to publish here.

Click on the image to enlarge.

Professional Paraplanner