Will The Lifetime Allowance Impact Your Pension
Share In the spring budget, the Government froze the Lifetime Allowance on pensions until the 2025/26 tax year. As many pension savers may not be aware of what the Lifetime Allowance is and whether it will impact their retirement savings, here we’ve looked at who the Lifetime Allowance will impact and how pension savers can lock into a higher amount. What is the Lifetime Allowance? The Lifetime Allowance is a maximum amount that can be saved into a pension over a lifetime without incurring a tax liability. The current limit is £1,073,100 and during the budget, the Government said that ...
Source: moneyfacts.co.uk