lifetime allowance

More clients than ever could face a 55% tax through breaching the lifetime allowance. Fiona Murphy asks advisers about the issues and action to take

The £1.5m lifetime allowance on pension saving should be scrapped as it is a barrier to effective long term retirement saving, a provider has said.

Pension savers who have acted to protect their lifetime allowance through fixed protection could lose the benefit if they are covered by scheme life insurance.

High earners with pension savings of £1.8m have just two and half weeks to apply for fixed protection or face a tax charge of £165,000, a law firm has warned.

With the fixed protection deadline fast approaching Adrian Walker explains some less obvious considerations that advisers need to bear in mind when assessing whether their clients should apply for fixed protection.

Andy Zanelli discusses the potential issues surrounding the abolition of protected rights.

LV= has launched a pension information microsite for advisers.

With only a few months to go before people need to register for fixed protection, Adrian Walker says advisers should identify any individuals where this issue could be a key part of retirement planning

In this week's Retirement Planner quick fire poll we ask: Are you currently checking all of your clients to see whether they should protect their funds against the lifetime allowance reduction in April?

Advisers are being urged to check all clients coming up to and in-retirement to see whether they need to protect their fund against the reduction in lifetime allowance.