Spring Budget 23: LTA scrap 'could see more people turn to IFAs'

Advisers react to news

Hope William-Smith
clock • 2 min read

Chancellor Jeremy Hunt’s move today (15 March) to abolish the pensions lifetime allowance (LTA) could see more people turning to advisers, according to Continuum.

The LTA - the maximum value in either a defined benefit or defined contribution scheme before an individual faces further tax charges - was scrapped today in a move set to "prove popular with higher earning professionals", said managing partner Martin Brown. "Many UK pension savers who were previously close to the LTA may feel that now could be a good time to consider saving more into a pension. Those with DC pension schemes who have saved industriously over their career will be wanting to look again at their financial planning in order to inflation-proof their lifestyle in retirement." ...

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

More on Pensions

Chancellor Jeremy Hunt (pictured) delivered his Autumn Statement in parliament today | Copyright HM Treasury

Autumn Statement 23: Hunt backs 8.5% state pension triple lock rise

From April next year

Jenna Brown
clock 22 November 2023 • 3 min read
Jeremy Hunt will make Mansion House speech tonight. Credit: HM Treasury

Pension companies to announce 5% commitment to growth assets

Voluntary move by providers

Professional Pensions
clock 10 July 2023 • 1 min read
TPR's Lou Davey: "Trustees must understand the risks they carry in their investment strategy, and only use leveraged LDI if appropriate."

TPR and FCA publish guidance on LDI

Investment, buffers and governance

Jasmine Urquhart
clock 24 April 2023 • 6 min read
Trustpilot