Pension legislation can be complicated and the Annual Allowance (AA) and Lifetime Allowance (LTA) is no exception. Over the years these allowances have been reduced/ and or frozen which means more and more employees are being impacted and therefore liable to a tax charge. In fact, as the LTA limit is frozen until 2026, many may unknowingly get caught out.
Our services can provide specialist financial education content and guidance support to help employees understand how to mitigate any tax charges. Where appropriate, this could include direct access to our regulated financial advice service. This ultimately leads to improved outcomes at retirement.