UK Chancellor Jeremy Hunt’s announcement of the abolishment of the pensions Lifetime Allowance (LTA) has certainly caused a stir within the private wealth industry.
In addition to getting rid of the LTA, the tax-free annual allowance for pensions increased from £40,000 to £60,000 and the rise in money purchase annual allowance (MPAA) rose from £4,000 to £10,000.
While the proposal was – at least publicly – designed to encourage over 50s to return t...
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