Lifetime Allowances and Life Cover through Excepted Group Life Policy

Published by Kevin O'Neill, Nilesh Shah on

In September 2017 we discussed excepted group life assurance schemes and the Lifetime Allowance (LTA).

From 2019/2020 the LTA will be £1,055,000 and there has been a continued increase in the use of excepted group life policies (EGLPs) for employees who already have a high level of benefit in a registered pension scheme.

This briefing has been updated with an important change to eligible beneficiaries.