8th March 2021 – Lifetime Allowance frozen

In the Budget on March 3rd 2021 the Chancellor announced that the Lifetime Allowance (LTA) – the maximum amount (of pension plus lump sum) that can be drawn from a pension scheme without triggering an extra tax charge – will, instead of being increased each year in line with the annual (September) CPI figure, be frozen at its current level (£1,073,100) until April 2026. Further details on the LTA can be found on the news page of the lgps member website .