Nothing stays the same for long in the world of pensions. It was less than two years ago we had the shock announcement that ...

No longer did they need to worry about the risk of going over the lifetime allowance (LTA) and incurring a tax charge on any pensions taken above that level. However, as with so many Budget ...

The pension lifetime allowance was scrapped last month at the start of the 2024-25 tax year. Chancellor Jeremy Hunt had previously announced the surprise move in last year’s Spring Budget ...

I've changed my mind about something quite important the pension savings lifetime allowance. Currently this is set at £1.055m. If the value of your pension assets rise above that, you pay tax at ...

Some of the key rules relating to the pensions lifetime allowance are as follows. You don't have to pay lifetime allowance charges until you have used up the full £1,073,100 allowance, or a higher ...

More simply, Labour could continue the Tories’ old trick of freezing various allowances. When Hunt scrapped the lifetime allowance the fly in the ointment was freezing the tax-free lump sum at ...

The short timeframe in which the lifetime allowance was abolished created problems for advisers and their clients this year, according to industry experts. They told FT Adviser more time was ...

The lifetime allowance is the total amount of money you can build up in a workplace defined benefit pension scheme and savings in a defined contribution pension before you face a further tax charge.

Under the pensions lifetime allowance, pension pots over £1.07m faced an annual tax of £40,000 on average. The cap was scrapped in April but Shadow chancellor Rachel Reeves had vowed to bring it ...

IMPORTANT: This column was amended to make clear that there is no LTA implication for the recipient of an inherited pension Has your pension question been answered? Read Steve Webb's replies ...