P · Glossary
Pension lifetime allowance
The cap on tax-advantaged pension savings — abolished from April 2024.
The Lifetime Allowance (LTA) was the cap on UK pensions before extra tax kicked in. £1,073,100. Effectively abolished from April 2024 — though a Lump Sum Allowance (£268,275) and Lump Sum & Death Benefit Allowance (£1,073,100) remain.
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