Karen Goldschmidt comments on reduction to Lifetime Allowance (LTA)
5 January 2012

"The reduction in the LTA from £1.8m to £1.5m is now only 3 months away - meaning individuals only have a short time to consider and, if appropriate, apply for Fixed Protection or draw some or all their benefits before then.

We are encouraging employers to prompt employees with large pension savings to consider their total pension arrangements and seek individual advice.  These individuals will have important decisions to make before April 2012 and it is essential that they are aware of changes in the Pensions Tax regime which may affect them, such as changes to the Annual Allowance, LTA and Fixed Protection".