Lifetime Allowance (LTA) caps your pension savings without extra tax charges, excluding the state pension.


  • Reduces Retirement Income: Hefty tax charges for exceeding the LTA.
  • Penalizes Savers: Diligent savers may face unexpected penalties.


  • Promotes Balanced Savings: Encourages diverse retirement planning.
  • Ensures Fairness: Prevents excessively large pensions for higher earners.

Abolishing the LTA

  • Tax Savings: Avoids up to 55% extra tax.
  • Accessibility: Pensions accessible from 57, with 25% tax-free.

WIM Accountants are here to help businesses with their accounting and taxation needs.

ACCAWe are a member firm of Association of Chartered Certified Accountants

ACCAWe are a member firm of Chartered Institute of Taxation

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