The Lifetime Allowance (LTA) was abolished from 6 April 2024.
Since 2006, there were various different types of LTA protection. The last of these was available for individuals to apply for up to 5 April 2025.
If you hold one of these protections, you must let us know. Certain protections could be lost in some circumstances. Please ensure that you check any protections previously awarded are still valid by visiting the government website GOV.UK. These protections may still be of use.
There are 2 tax free allowances in place of the LTA:
- Lump Sum Allowance (LSA)
- Lump Sum and Death Benefit Allowance (LSDBA).
The LSA and LSDBA may be higher if you hold one of the previous LTA protections. Please speak to your tax advisor.
Please be aware that protections can be lost. Please speak to your tax advisor. Find out about losing your pension protected allowances on the GOV.UK website