Comment and Blogs
Richard Mattison, director at SSAS specialist Whitehall Group, comments on the scrapping of the Lifetime Allowance, the raising the Annual Allowance and the unintended consequences they could cause.
So, Budget 2015 brought us another change to the lifetime allowance (LTA), with the proposal to reduce it from £1.25 million to £1 million. This now seems to be the pension policy of choice for at least two of the main political parties.
Much of my last 12 months has been spent touring the UK, talking to advisers about pension freedoms. Whilst I still have a few sessions to go, I’d like to share a few interesting findings with you.
Sometimes you spot something a bit left field that makes you wonder about the wider implications and whether trouble is just over the horizon.
We live in an instantaneous world – if I go on Amazon I can have my purchase with me the next day, banking can be done at the click of a mouse and bills can be paid without even getting up in the morning.