The Transfer Balance Cap and Capped Defined Benefit Income Streams

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Question 1 of 4

For transfer balance cap purposes, the value of a CDBIS that is a lifetime non-commutable pension will typically be based on:

its annual income multiplied by the person’s remaining life expectancy

its annual income multiplied by the longer of the person’s or their spouse’s remaining life expectancy

its annual income entitlement multiplied by a factor of 16

none of the above