Pensions tax is never simple, and the legislation abolishing the lifetime allowance (LTA) on 6 April 2024 (“L-Day”) bears this out. Regulations issued mid-March correct some, but by no means all, of ...

When someone retires, the amount crystallised on a ‘benefit crystallisation event’ will show if they are breaking through the lifetime allowance of £1m, but some can avoid that by protecting a higher ...

Regulations issued on 7 October 2024 will change (again) the requirements for calculating whether a member may be paid a trivial commutation lump sum (TCLS). The Pensions (Abolition of Lifetime ...

The lifetime allowance limit on pensions is being abolished in a bid to help get older people back into work, the Chancellor has announced as part of his spring budget. Jeremy Hunt said no one should ...

In April 2006, the government introduced a lifetime limit on the amount that can be held in a pension free of tax. Today, the lifetime allowance is £1.25m. People who have, or expect to have, more ...

Navigating the world of pensions isn’t always easy, particularly because the tax rules associated with saving for retirement are complicated and have changed a lot over the years as governments have ...

The hit to annuity rates by the Bank of England rate cut should prompt the government to reassess the £1m lifetime allowance for pension contributions, a financial adviser with advice group Tilney has ...

Changes to allowances will take effect in April – Aries Insight's Ian Neale explains what they mean and who will be affected. At different times from A-Day (April 6 2006), new forms of protection have ...