Spring Budget announcement
'Under the radar revenue raiser'
Spring Budget 2021
Increase from April 2020
Pension tax charges ‘ballooned’ in 2017/18
Protections and enhancements
AE, LTA and more
290,000 already affected
LTA tax collected in 2016/17 hit £110m
LTA currently £1.03m
‘Promising lead’ or ‘Back to the lab’?
Rate cut signals 'bleak' future for annuities
There were some high hopes for pensions on 6 April 2006
Pensions avoids a bloodbath
Chancellor expected to scrap higher rate tax relief
Current system does not make sense
A quirk in A-Day tax rules means registered group life benefits count towards the lifetime allowance (LTA). Jonathan Stapleton looks at the problems this poses as the LTA falls
More than half of advisers - 55% - believe there will be fewer than 65 self-invested personal pension (SIPP) providers operating in two years' time and 41% think the total could fall to lower than 50, according to Dentons Pension Management.
Taking a hefty tax charge on the chin might be the right decision
Almost half of pension holders who are over or near their lifetime allowance (LTA) threshold have not yet taken any action to prepare for the limit reductions due to be introduced in April, a survey has found.
The potential reform of pensions tax relief could provide several opportunities for advice.
Colin Batchelor, head of pensions technical at Legal & General Savings, explains how to protect your clients’ pension pots from the upcoming lifetime allowance reduction.