Neil MacGillivray: Solving a lifetime allowance issue

I was chatting recently with a friend who's a member of a defined benefit (DB) pension scheme, when she announced that she was likely to have to pay a lifetime allowance (LTA) charge due to a recent promotion. To avoid it, she's considering either ceasing active membership or taking early retirement. Under the latter option, there's an actuarial reduction, and her thinking was that when applied, it would significantly reduce any charge. In her eyes, the matter was further exacerbated by the freezing of the standard LTA (SLA) till the end of 2025/26 tax year. Generally, I find some peo...