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...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Adviser tips

Clay: "My workday usually ends when two little children descend in my office."

A day in the life of an adviser: Chester-based Frederika Clay

PA hears how advisers all across the nation structure their workdays

Hope William-Smith
clock 02 June 2023 • 5 min read
Lovesy: "I’m a real Outlook diary nerd and plan every half hour of my day."

A day in the life of an adviser: Taunton-based Rupert Lovesy

PA hears how advisers all across the nation structure their workdays

Hope William-Smith
clock 26 May 2023 • 4 min read
Editor's View: Are MPS solutions under threat from new regulation?

Editor's View: Are MPS solutions under threat from new regulation?

The editor's Friday Night Takeaway from 26 May

Hope William-Smith
clock 26 May 2023 • 2 min read