lifetime allowance

Lifetime allowance cut is a tax grab with both hands

Chancellor George Osborne will cut the lifetime allowance of tax free pension savings from £1.25m to £1m in tomorrow's Budget, according to reports.

The £1.25m lifetime cap on tax free pension savings will affect workers who retire on anything from £20,000 a year, meaning those who start to save early could face tax charges of 55% when they retire, according to new research.

More advisers are worried about their clients incurring lifetime allowance (LTA) tax charges, according to retirement wealth platform James Hay Partnership, which saw queries around the upper contribution limit spike in the last quarter.

Protection from the lifetime allowance is a big issue. Martin Tilley looks at the importance of investment growth in determining who might be affected.

While the amount of flexibility available in pensions has increased since the Budget is there room for more? Neil MacGillivray looks to the ISA world for inspiration.

Nigel Hatt looks at the protection opportunities for those in danger of breaching the lifetime allowance.

The lifetime allowance drops to £1.25m in April ushering in a whole new protection regime. Mike Morrison asks whether it is always right to take up this protection.

Crystal ball: Ten predictions for Budget 2014

Everything you need to know about the upcoming lifetime allowance change...