Freedom or jeopardy?

1) A dental practitioner aged 60 draws their NHS pension of £40K pa in May 2016.

Lifetime allowance    :            £1m

NHS pension 'value':           £920,000

Excess:                               £0

LTA HMRC charge:                 £0

2) A dental practitioner aged 60 draws their NHS pension of

£50k pa in May 2016 and takes 25 per cent tax-free cash from

their personal pension.

Lifetime allowance:                 £1m

NHS pension 'value':         £1.15m

Excess:                               £150,000

LTA HMRC charge:            £1,875pa

(from gross NHS Pension Scheme income for life)

3) A dental practioner aged 60 draws their NHS pension of £40k pa in May 2016 and takes 25 per cent tax-free cash from