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Pension lifetime allowance factsheet

Pension lifetime allowance factsheet

For the first time in eight years the lifetime allowance has risen. It is now £1.03 million.

This factsheet is not personal advice, but reveals:

  • What the pension lifetime allowance is and when it applies
  • How to calculate if it could affect you
  • The mistake which can result in a 55% tax charge
  • The different types of pension lifetime allowance protection
  • How to secure an allowance of £1.03 million

The factsheet is based on our understanding of legislation at 6 April 2017, which is subject to change. It is a summary and cannot cover every situation. Any tax benefits depend on your circumstances and tax rules can change in the future.

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    This information is not personal advice. You should not take, or refrain from taking, any action based on this information. If you are at all unsure, contact us and we can put you in touch with an adviser.

    For the first time in eight years the lifetime allowance has risen. It is now £1.03 million.

    This factsheet reveals:

    • What the pension lifetime allowance is and when it applies
    • How to calculate if it could affect you
    • The mistake which can result in a 55% tax charge
    • The different types of pension lifetime allowance protection
    • How to secure an allowance of £1.03 million

    This information is not personal advice. You should not take, or refrain from taking, any action based on this information. If you are at all unsure, contact us and we can put you in touch with an adviser.

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