2026, Education, Pension and Pension Benefit

Do employees really need to be concerned about the Lifetime Allowance right now?

Employee Benefits

FEBRUARY 17, 2023

Therefore, people’s pension savings will likely start catching up with the frozen Allowance. This could particularly affect those who never check the value of their pension or haven’t done so for some time. Positive pension fund growth as well as a pay rise may easily push them over the LTA before they know it.

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Pension Taxes Pension Benefit Salary

What employees need to know to reduce the impact of the LTA

Employee Benefits

JANUARY 21, 2022

As announced in April’s Budget, the Lifetime Allowance (LTA) will be frozen at its current level of £1,073,100 until April 2026. million pension savers [1] are set to reach the limit and will be hit with a tax charge of 55% in retirement. Assumes growth rate of 5% and excludes charges on the pension plans.

Pension

Pension Taxes Pension Benefit Education

Comp and Benefits Today

Do employees really need to be concerned about the Lifetime Allowance right now?

What employees need to know to reduce the impact of the LTA

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