Be careful what you wish for: LTA abolition concerns

'What are we to do, given the uncertain future?'

clock • 4 min read

Is the abolition of the LTA the boon of our aspirations? Carl Lamb is concerned…

Back in December, in this column, I said "My belief is that the lifetime allowance (LTA) causes more problems than it can possibly resolve - and we really don't need it." I'm not claiming to have influenced the chancellor's Budget decisions with that statement, but the fact is that the LTA is on its way out.  Thank goodness? Well, yes - but I have to admit to a number of qualms. The Treasury's motivation was clearly to retain high-flyers in the workforce, especially in the NHS. The abolition of the LTA will certainly help with that, but I have a nagging sense of unease about the gover...

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 Pensions

Government confirms no compensation for WASPI women over state pension age changes

Government confirms no compensation for WASPI women over state pension age changes

DWP finds communication delays did not amount to financial loss

Martin Richmond
clock 17 December 2024 • 4 min read
Chancellor's move to pause Pensions Review 'deeply disappointing'

Chancellor's move to pause Pensions Review 'deeply disappointing'

Rachel Reeves has reportedly pressed indefinitely paused the review

Jenna Brown
clock 16 December 2024 • 3 min read
FCA targets pension transfers and SIPPs in major review

FCA targets pension transfers and SIPPs in major review

Regulator launches review of DC pension rules

Isabel Baxter
clock 13 December 2024 • 4 min read