The pension lifetime allowance (LTA) will be reduced to £1m in April 2016.
This reduction could have a serious impact on pension savers with large pension pots. It is important to take independent financial advice from experts to ensure your pension savings stay on track.
This is one of many changes to pension legislation over the last few years. Even if you are not at risk from this cut to the pension lifetime allowance, it is still sensible to review your pension regularly.
Farrell Financial Planning are independent financial advisers (IFAs) based in Glasgow. We offer independent financial advice on pensions and much more.
A pension is a long term investment. The fund value can fluctuate and go down. All information is based on Farrell Financial Planning’s understanding of UK law & HMRC practice in the UK. Tax and legislation are subject to change.