I agree We use cookies on this website to help us provide the best user experience. By browsing this site you agree to their use - more information is available here.

Barnett Waddingham
0333 11 11 222

Lifetime allowance charges

Published by Bhargaw Buddhdev on

We were appointed by an executive who faced the prospect of a lifetime allowance (LTA) charge because her benefits at normal retirement date would exceed the LTA.

We outlined that she would be able to reduce the LTA charge in a number of ways:

  • by drawing a higher pensions commencement lump sum 
  • or by retiring early 
  • or by drawing benefits early and continuing to work 

Benefits

These options did not increase the employer’s costs but reduced the LTA charge for the executive.

About the authors

  • Bhargaw Buddhdev

    Bhargaw Buddhdev is a pensions actuary and he is our expert for dealing with pension taxation issues for individuals and their employers.

    View Biography

  • Lisa Lawson

    Lisa has a range of experience in providing advice to pension scheme trustees and sponsors including scheme funding issues, investment strategy and corporate accounting.

    View Biography

Updates delivered to you

Stay ahead with our latest comment, expert insight and event details.