Anyone know how, in principle, the lifetime allowance is allocated when you commence to draw down your pensions at different times.
Is the first lot of pension worked out as a %age of the lifetime allowance at that time, and then that %age carried forward for use in the next calculation? And so on, accumulating the %ages each time.
If so, as the lifetime allowance increases on 6 April each year, it presumably makes more sense to take your pension on 6 April rather than 5 April. Damn complicated this pension simplification business!