What do employers need to know about the pensions lifetime allowance abolition?
Employee Benefits
MARCH 4, 2024
Two new limits will be introduced in April to control tax relief on pension lump sums. The lifetime allowance (LTA) is the total value an individual can build up in their combined pension savings without incurring a tax charge: for most people in the tax year 2023/24 this is £1,073,100.
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