Changes to Lifetime Allowance
Factsheet provided by the Home Office Police Pensions’ Unit
Further to the special e bulletin which was circulated on Friday 20th March 2015 in relation to the Chancellor’s announcement that LTA would be reduced from £1.25m to £1.0m with effect from 6th April 2016, the Home Office has produced a factsheet which can be accessed here Lifetime Allowance Factsheet – Public.
A couple of the financial advisors who work alongside the Association have been asked to provide some more detailed analysis of the implications for members. This will be circulated as soon as it is available. HMRC has yet to announce details of the protection arrangements that will be put in place for those members who have already exceeded the new lower limit.