Lifetime Allowance

Lifetime Allowance













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Lifetime Allowance

The lifetime allowance is the maximum value of pension funds that an individual can build up without incurring a tax charge. The lifetime allowance applies to the total values of all private and occupational pensions, but it does not include the any of the benefits from State pensions. Most pension savings will not get anywhere near the lifetime allowance, which has been set at £1.8 million for the 2016-11 tax year. [If you don’t want to update it each year I can try to think of other wording]