Unanswered questions around the removal of the lifetime allowance

'Unhelpful uncertainty' surrounds the fanfare of abolition

clock • 3 min read

Joshua Croft looks at the abolition of the LTA from the pensions landscape and says there remain unanswered questions about the removal

Since the budget back in March the pension landscape has been abuzz with discussions surrounding the removal of the lifetime allowance (LTA) - one of the thresholds that governs tax advantages on pensions. While most have welcomed scrapping the LTA there are still several questions surrounding what the post LTA pension system will look like after April 2024, leaving experts and individuals alike grappling to understand the implications for their financial futures. What we do know is the current LTA of £1,073,100 is planned to be abolished from 6 April 2024. In 2023/24, LTA checks stil...

To continue reading this article...

Join Professional Adviser for free

  • 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

Chancellor 'confident' govt will not need to mandate pension scheme investment

Chancellor 'confident' govt will not need to mandate pension scheme investment

Rachel Reeves confirmed in Mansion House speech pension funds and government ‘are united’

Holly Roach
clock 16 July 2025 • 2 min read
Why documentation is king in the world of SSAS

Why documentation is king in the world of SSAS

'SSAS documentation - it isn't just best practice or a fiduciary requirement'

Caitlin Southall
clock 04 July 2025 • 4 min read
Steve Webb: Sceptical advisers should not give up on pensions dashboard

Steve Webb: Sceptical advisers should not give up on pensions dashboard

‘A big mistake to underestimate the impact it will have’

Jenna Brown
clock 03 July 2025 • 3 min read