'LTA timebomb' to hit more than a million workers - Royal London

290,000 already affected

Hannah Godfrey
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“It is shocking over a quarter of a million people have already breached the LTA and that many of these are still adding to their pensions" - Royal London's Steve Webb
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“It is shocking over a quarter of a million people have already breached the LTA and that many of these are still adding to their pensions" - Royal London's Steve Webb

An estimated 1.25 million people can expect to breach the £1.03m lifetime allowance (LTA) before they retire, research by Royal London has indicated.

Some 290,000 workers already have pension rights above the lifetime limit, the life company says, and fewer than half of those are thought to have applied for ‘protection' against past reductions in the...

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