The majority (69%) of independent financial advisers (IFAs) think it is risky for clients to plan their finances around the lifetime allowance (LTA) removal being in place in the long term, Standard Life research has found.
The research conducted among 203 IFAs earlier this month found while the majority supported (76%) or strongly supported (52%) the removal of the pensions LTA in the Spring Budget, more than two-thirds warned against clients planning their finances around the measure. Just 9% of those surveyed thought it would be safe for clients to plan on the removal of the LTA being in place in the future. The survey also found the vast majority (91%) were in favour of the money purchase annual allowance rising from £4,000 to £10,000, with 69% strongly supporting this. The majority (86%) also sup...
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