I have a large occupational pension and will be retiring next year. The total value of occupational pension exceeds the current lifetime allowance and I will be subject to a tax charge when this is crystallise. I also have a SIPP pension which I will not be crystallising for the foreseeable future.
Could you confirm that no tax charge is due on my SIPP until it is crystallised
If in 20 years time, I decide to crystallise it, will it be tested against the amount of the life time allowance at that time which may be considerably more than at present
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