Why advisers must act now ahead of 6 April LTA abolition

April marks the end of the lifetime allowance era

clock • 4 min read

Jon Greer explains why advisers must act now ahead of the new pensions regime in April to ensure good client outcomes...

The biggest change to pensions tax legislation since A-Day is almost upon us. This April marks the end of the lifetime allowance (LTA) era. The impact of the new regime on the entire value chain from manufacturer to adviser through to individual clients will be hugely significant and potentially detrimental for some if action is not taken now. One way of best preparing for the changes is to gather as much information as possible about the tax-free lump sums - pension commencement lump sum (PCLS) and tax-free element of uncrystallised funds pension lump sum (UFPLS) payments - that clie...

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

Finance Bill LTA provisions a 'rushed job' ahead of April

Finance Bill LTA provisions a 'rushed job' ahead of April

LTA provisions remains a concern in the latest Finance Bill

Jonathan Stapleton
clock 23 February 2024 • 1 min read
FCA warning for duo over 'seriously flawed' DB transfer model

FCA warning for duo over 'seriously flawed' DB transfer model

Two warning notices have been issued to unnamed individuals

Hope Coumbe
clock 21 February 2024 • 1 min read
DB transfer complaints: A difficult balancing act for all parties

DB transfer complaints: A difficult balancing act for all parties

The legal perspecitve on DB transfer complaints

Claire Carroll and Laura Norris
clock 21 February 2024 • 4 min read