LTA changes spark surge in demand for retirement advice

Half of advisers seen uptick in retirement advice demand

Jenna Brown
clock • 2 min read

Changes to tax policies linked to retirement, such as the abolition of the lifetime allowance (LTA) have resulted in increased demand for financial advice for half of firms in the space, research has found.

NextWealth research, commissioned by Aegon, revealed that 49% of advisory firms that offer retirement advice had seen an increase in client demand for their services since changes to policies such as the LTA and money purchase annual allowance (MPAA) were announced. The LTA - the amount of money someone can put into a pension during their lifetime without facing tax charges - is due to be scrapped from 6 April. The MPAA increased from £4,000 to £10,000 last year.  NextWealth carried out its research among 200 advisers in late 2023 before final details of the LTA removal had been annou...

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