Lifetime Allowance Guidance
The government announced on 14 October 2010 changes to the lifetime allowance for tax relief on pensions. From 2012-13 onwards, the lifetime allowance for pension savings for individuals will be reduced from the current level of £1.8 million to £1.5 million.
You can find guidance aimed at pension scheme members on the changes to the lifetime allowance for pension schemes from 2012-13 onwards by following the links in the 'further information' section.
Full guidance on how the lifetime allowance works can be found in chapter 11 of the Registered Pension Schemes Manual (RPSM). This chapter contains guidance on how the lifetime allowance works from:
Guide to changes in the lifetime allowance
Impact of a reduced lifetime allowance on pension savings
Fixed Protection for Pension Savings
Lifetime allowance - existing forms of protection
If you have further questions after reading the guidance you can contact your:
If you still have any questions after contacting your employer etc please contact Pension Scheme Services.
Contact Pension Schemes Services by email
