One year on: Abolished lifetime allowance still throwing up advice queries

With so much happening in the world of pensions, it's easy to forget that it's now more than a year since the abolition of the lifetime allowance. Despite that, we are still receiving many questions around some of the specific advice points. One we are frequently asked about is where a client has a scheme-specific lump sum and, if they have other schemes, the order in which their benefits should be taken to maximise the tax efficiency. Before 6 April 2006, occupational pension schemes, including section 32 buyout contracts, could provide more than 25% tax-free cash. Then, tax-free cas...