PensionsMar 11 2024

Navigating the abolition of LTA and the impact on tax-free lump sums 

  • Explain what the new lump sum allowances mean
  • Explain the impact of the new rules on retirement planning
  • Describe what happens with protected LTAs
  • Explain what the new lump sum allowances mean
  • Explain the impact of the new rules on retirement planning
  • Describe what happens with protected LTAs
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Approx.30min
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Approx.30min
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CPD
Approx.30min
Navigating the abolition of LTA and the impact on tax-free lump sums 
With the abolition of the LTA, new rules needed to be introduced to limit lump sum payments that were previously restricted by the LTA. (Alex_star/Envato Elements)

The lifetime allowance is set to be abolished on April 6 2024. But what does this mean in practice?

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