Advisers have said the new legislation surrounding the abolition of the lifetime allowance (LTA) on 6 April presents "new planning opportunities" but familiarising themselves with the changes is "a must".
As the abolition approaches, advisers have been called on to familiarise themselves with the incoming legislation. The permanent abolition of the pensions LTA from 6 April brings with it a range of supporting legislation, including three new allowances - the lump sum allowance (LSA), the lump sum and death benefits allowance (LSDBA) and the overseas transfer allowance (OTA). AJ Bell head of public policy Rachel Vahey yesterday (5 February) urged advisers to support clients in maximising pension tax efficiency. She suggested that advisers discuss not only clients' pension income str...
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