P0 Q118

Discussion in 'Practice modules' started by LastHurdles, May 19, 2016.

  1. LastHurdles

    LastHurdles Member

    "Which statement about personal pensions is NOT true"
    A - Employees can claim tax relief on contributions up to the higher of £3,600 or 100% of annual earnings
    B - The maximum level of personal contributions that can gain tax relief in any year is £40,000
    C - There is a cap on the value of the benefits accrued called the Lifetime Allowance (LTA)
    D - Benefits in excess of the LTA are returned to individuals by the scheme

    The answer says D. But isn't A also not true?

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