Be careful what you wish for: LTA abolition concerns

'What are we to do, given the uncertain future?'

clock • 4 min read

Is the abolition of the LTA the boon of our aspirations? Carl Lamb is concerned…

Back in December, in this column, I said "My belief is that the lifetime allowance (LTA) causes more problems than it can possibly resolve - and we really don't need it." I'm not claiming to have influenced the chancellor's Budget decisions with that statement, but the fact is that the LTA is on its way out.  Thank goodness? Well, yes - but I have to admit to a number of qualms. The Treasury's motivation was clearly to retain high-flyers in the workforce, especially in the NHS. The abolition of the LTA will certainly help with that, but I have a nagging sense of unease about the gover...

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 Pensions

Financial advisers seek certainty on pension taxation

Financial advisers seek certainty on pension taxation

Advisers place emphasis on obtaining clarity regarding pension taxation

Sahar Nazir
clock 19 September 2023 • 1 min read
A third of workers are reducing or stopping pension contributions

A third of workers are reducing or stopping pension contributions

This could mean losing out on £4,092 savings for those earning £35,000

Isabel Baxter
clock 18 September 2023 • 1 min read
AJ Bell's Laura Suter

What to do about pensions, divorce and the planning problem

Pensions are often forgotten in the divorce process...

Laura Suter
clock 18 September 2023 • 4 min read