'Mistake' to view LTA abolition as one less problem - advisers

Advisers tell Professional Adviser LTA abolition brings ‘significant change'

Sahar Nazir
clock • 2 min read

Advisers have said the new legislation surrounding the abolition of the lifetime allowance (LTA) on 6 April presents "new planning opportunities" but familiarising themselves with the changes is "a must".

As the abolition approaches, advisers have been called on to familiarise themselves with the incoming legislation. The permanent abolition of the pensions LTA from 6 April brings with it a range of supporting legislation, including three new allowances - the lump sum allowance (LSA), the lump sum and death benefits allowance (LSDBA) and the overseas transfer allowance (OTA). AJ Bell head of public policy Rachel Vahey yesterday (5 February) urged advisers to support clients in maximising pension tax efficiency. She suggested that advisers discuss not only clients' pension income str...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The state of financial vulnerability in 2024 and what 2025 holds

The state of financial vulnerability in 2024 and what 2025 holds

'Most firms are now heading in the right direction with their vulnerability processes'

Richard Farr
clock 20 December 2024 • 3 min read
Feel Good Friday: BRI Wealth Management raises money for homeless charity

Feel Good Friday: BRI Wealth Management raises money for homeless charity

Firm has raised £650 for Let’s Feed Brum

Professional Adviser
clock 20 December 2024 • 1 min read
Bank of England holds interest rates steady at 4.75% amid heightened inflation

Bank of England holds interest rates steady at 4.75% amid heightened inflation

Interest rates remain the same

Sorin Dojan
clock 19 December 2024 • 2 min read