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Benefits value at 2nd crystallisation event

Benefits value at the second crystallisation event was £2,650,000
The lifetime allowance was £1,073,100
Her remaining lifetime allowance was £804,825 being 75% of £1,073,100.
Her excess benefits value was £1,845,175
The lifetime allowance charge was £1,041,846 being 55% of £1,845,175.
Her net excess benefits value was £830,329
Her tax-free lump sum was £201,206 being 25% of her remaining lifetime allowance of £804,825.
Her tax-free lump sum and her net excess benefits value of £830,329 gave her a total lump sum of £1,031,535
She also has residual benefits of £603,619 to provide an income being  £2,650,000 minus £1,014,846 and minus £1,031,535

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The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.