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Armed Forces (Gratuities)

Volume 401: debated on Wednesday 19 March 2003

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To ask the Chancellor of the Exchequer what plans he has to tax the gratuity which a member of the Armed Forces receives upon leaving. [103180]

The current pensions simplification consultation document proposes that tax free lump sums paid from pensions schemes will only be available after the minimum age of 55. The Government is considering separately the position of members of the Armed Forces pension scheme in light of this proposal.