How are minimum pension payments calculated?
How are minimum pension payments calculated? To calculate the minimum payment amount, multiply the minimum annual payment amount by the remaining number of days in the financial year and divide by 365 (or 366 in a leap year). This is expressed as: Minimum payment amount = minimum annual payment amount × (remaining number of days ÷ 365 (or 366)). How is maximum lump sum pension calculated? Maximum lump sum This maximum amount available is 25% of the capital value of your benefits and can be estimated by multiplying your pension by 5.36. The automatic standard lump sum is included when...