1.6M Super Pension Cap Questions

  1. 160 Posts.
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    Hi All.

    If you have 1.6m in pension mode and this earns 6% (96k) for the year, then taking into account compulsory 4% drawdown (64k), am I correct to assume that the 32k leftover stays in the pension account, or must it go into an accumulation account?
    If it stays in the pension account, does that men that if this account earns 6% again the next year, it is based on 1,632,000 not 1.6m?
    Look forward to responses. Thanks
 
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