Q - Can you tell me what future assumptions are made on tax thresholds/allowances please? How are they increased each year beyond what's already been set by government?
A - The future escalation of tax rate thresholds beyond the known, as set by the government, is controlled using the Default Tax Table Assumption, a setting found in the plan settings section.
This preference can be used to edit and apply an across-the-board annual escalation to the following assumptions, relating to taxes and contribution allowances (with the default rate of escalation being set at 4%).
Read more >> about the Default Tax Table Assumption.