Update from Fidelity Adviser Solutions: ‘Replacement’ of the lifetime allowance
| In the Spring Budget, an announcement was made that the lifetime allowance (LTA) would be 'abolished'. Following temporary arrangements for 2023/24, the full replacement of the LTA is planned from 6 April 2024. Draft legislation contains some surprises – not least to the treatment of pension death benefits. Paul Squirrell, Head of Retirement and Savings Development at Fidelity Adviser Solutions has produced an excellent, concise review of these proposed changes including interpretive comment and an easy table to allow instance sight of the implications for your clients. |
