Spring Budget 2021: Sunak freezes lifetime allowance

Spring Budget 2021

Jenna Brown
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Photo: Victoria Jones/PA Wire/PA Images
Image:

Photo: Victoria Jones/PA Wire/PA Images

Chancellor Rishi Sunak has frozen the lifetime allowance (LTA) for pension contributions at just over £1m for the remainder of this Parliament.

The Chancellor said the LTA would remain at its current level of £1,073,100 for 2020/21 rather than increasing in line with inflation. It had been expected to rise by £5,800 in 2021/22, in line wit...

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