Untangling the new Lifetime Allowance rules on UK pensions
From 6 April 2024, the LTA will be no more. Yet, it's not that straightforward. With the Lifetime Allowance removed, two new limits are being introduced, specifically to control tax relief on lump sums:
Published On: April 18, 2023|2.7 min read|
The Removal of the Lifetime Allowance Limit. What does it mean for my Pension?
In the Spring Budget of 2023, Chancellor of the Exchequer announced the removal of the Lifetime Allowance (LTA) for pension contributions. This decision has sparked a lot of controversy and debate, as it has significant implications for pension savers in the UK.
Published On: November 18, 2022|3.4 min read|
Have you exceeded the Lifetime Allowance?
Should you continue to make pension contributions?
With steady decreases in the value of the LTA over time. More and more individuals are finding themselves in excess of the lifetime allowance prior to their planned retirement.
Published On: March 24, 2022|4.8 min read|
How to Increase Your Pension Lifetime Allowance
If your retirement savings look like they could be nearing the Pension Lifetime Allowance, you might be wondering if there are ways to avoid paying the hefty LTA tax charges that are applied.
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