Lifetime Allowances and Life Cover through Excepted Group Life Policy

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.