Lifetime Allowance

March 16, 2023
Budget 2023: Scrapping of LTA to spark pension planning review premium
Following Jeremy Hunt’s game-changing Spring Budget on Wednesday, we believe there’ll be a rush to review retirement savings plans. During his first full Budget as Chancellor, Hunt’s decision to scrap the Lifetime Allowance (LTA) will significantly ease the pension tension. The LTA is the maximum amount people can contribute to a pension – it was £1.07m before tax charges were faced. When it was originally brought in in 2006, the allowance was Read More

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