LTA: Should clients crystallise all pensions before April 2024?

April 6 sees biggest changes to the pension tax rules in a decade

clock • 3 min read

Andrew Tully looks at the upcoming removal of the LTA which, he says, is leaving financial advisers as well as clients in a difficult position…

We're moving quickly towards 6 April and the introduction of the biggest changes to the pension tax rules in a decade. But we still don't have final legislation and, even when we do, some uncertainty is likely to remain. The government has inserted a very unusual clause in the Finance Bill allowing them to change this primary legislation via secondary legislation any time until 2026 so it feels it isn't entirely confident about things either. Add in the fact the Labour party has said its intention is to reverse the abolition of the lifetime allowance (LTA) should it come into power an...

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

First three firms complete pensions dashboards ecosystem connection

First three firms complete pensions dashboards ecosystem connection

Heywood, L&G and Pension Fusion have completed final stages required to connect

Holly Roach
clock 05 March 2025 • 3 min read
Post-Budget IHT planning: Gifting options in light of pension changes

Post-Budget IHT planning: Gifting options in light of pension changes

Withdrawals need to be spent, sheltered or gifted

Andrew Tully
clock 03 March 2025 • 4 min read
Pension transfers: Transparency vital in push to raise standards

Pension transfers: Transparency vital in push to raise standards

A glass half full for pension transfers?

Anthony Rafferty
clock 28 February 2025 • 3 min read