Business tax – guidance

Drawdown pension tables

Tables and instructions to work out the ‘basis amount’ for calculating the maximum income from capped drawdown pension funds.

Documents

Drawdown Tables 2011

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Drawdown Tables Instructions 2011

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Drawdown Tables 2006

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Drawdown Tables Instructions 2006

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Detail

These tables and instructions allow you to work out the ‘basis amount’ for calculating the maximum income from capped drawdown pension funds and, before 6 April 2011, unsecured pension funds and alternatively secured pension funds.

There are two sets of drawdown pension tables. The drawdown pension table you use depends on when the reference period for the drawdown pension or unsecured pension started and, for those aged 75 or over, when the drawdown pension year or, before 6 April 2011, alternatively secured pension year started.

When you must use the 2011 tables

You must use the 2011 tables when calculating the basis amount:

  • for reference periods beginning on or after 6 June 2011
  • on a recalculation if there has been an annuity purchase, additional fund designation or pension sharing order effective on or after 6 June 2011
  • for drawdown pension years after the member or dependant has reached their 75th birthday beginning on or after 6 June 2011
  • for drawdown pension years for members or dependants who have reached their 76th birthday beginning on or after 6 April 2011

Please note: using the 60 day valuation window cannot change the date of the next reference period.

Use these tables in conjunction with the Pensions Tax Manual guidance on:

When you must use the 2006 tables

You must use the 2006 tables when calculating the basis amount:

  • for reference periods for unsecured pensions beginning before 6 April 2011
  • for alternatively secured pension years beginning before 6 April 2011
  • on a recalculation if there has been an annuity purchase, additional fund designation or pension sharing order effective before 6 April 2011

Please note: using the 60 day valuation window cannot change the date of the next reference period.

These tables should be used in conjunction with the Registered Pensions Schemes Manual guidance on:

When you can use either the 2006 or the 2011 tables

You may use either the 2006 tables or the 2011 tables when calculating the basis amount:

  • for reference periods beginning after 5 April 2011 but before 6 June 2011
  • on a recalculation if there has been an annuity purchase, additional fund designation or pension sharing order effective after 5 April 2011 but before 6 June 2011
  • for drawdown pension years after the member or dependant has reached their 75th birthday beginning after 5 April 2011 but before 6 June 2011

Please note: using the 60 day valuation window cannot change the date of the next reference period.

Getting more help

If after reading the guidance you have a question about how to use these tables contact the HM Revenue and Customs Pension Schemes Services Helpline.