Update: Replacement of the lifetime allowance
The pension lifetime allowance (LTA) has now been abolished and replaced with a new framework. In this postcard, Paul Squirrell summarises the three new allowances that were introduced on 6 April 2024 and explains the transitional arrangements that have been put in place. Following the issue of PSN155, it also confirms the latest guidance on how to apply for a transitional tax-free amount certificate.
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