Autumn Budget 2017: Lifetime allowance increase confirmed

Rises in-line with CPI

clock • 1 min read

Budget papers have confirmed the lifetime allowance (LTA) for pensions will increase to £1,030,000 for the tax year 2018/19.

The LTA currently stands at £1m and is about to be increased in line with the Consumer Prices Index (CPI).   The increase, which happens in April next year, will be calculated in line with the change in CPI over the 12-month period between September 2016 and September 2017 rounded to the next £100. Inflation was recently confirmed at 3% - the highest level since April 2012 - meaning the LTA will increase to £1,030,000 for the tax year 2018/19.  

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot