How does EVPro treat the Lump Sum Allowance and PCLS?

We do take into account the Lump Sum Allowance, but it’s important to note that we don’t restrict the lump sum, we tax the excess over the Lump Sum Allowance.  So, if someone had a £1.6m pot and was taking a 25% PCLS, that would be £400,000 which is over the £268,275 Lump Sum Allowance. The excess £131,725 would be subject to income tax, which would depend on the individuals income. So if that income tax was say £43,000, then the lump sum after tax would be £357,000.

Model also takes into account inflation of tax bands, etc when doing the tax calc. EVPro presents this back in Today’s Values, not Future Values.