Deputy Editor's View: LTA becomes pensions political football

The deputy editor's Friday Night Takeaway from 17 March

Jenna Brown
clock • 2 min read

Chancellor Jeremy Hunt went one step further than raising the lifetime allowance (LTA) on Thursday in his Spring Budget - he removed it altogether.

The move no doubt raised cheers in pension and advice offices across the land. Goodbye, LTA, farewell. Or is it really au revoir? If the Labour Party has its way and wins the next election the lifetime limit on pension savings before taxes kick in would be brought back. The issue thus became something of a political football within hours of its confirmed demise. Labour said it was "the wrong priority, at the wrong time, for the wrong people", adding it would benefit the "top 1% of pension savers" who would be getting a massive tax break on their retirement. Hunt said it would be...

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