More than three quarters (78%) of advisers are unsure about or do not have enough information to advise on the upcoming lifetime allowance (LTA) changes, M&G Wealth has found.
With the abolition set to take effect on 6 April 2024, advisers have been called on to familiarise themselves with the incoming legislation. Last week (6 February), AJ Bell head of public policy Rachel Vahey urged advisers to support clients in maximising pension tax efficiency ahead of the abolition of the pensions LTA. The abolition 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). An update from HM Revenue & Customs on the po...
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