Pension explainer: The lifetime allowance and why it’s not just for wealthy savers

By Samantha Downes Speculation is growing that the Chancellor of the Exchequer Jeremy Hunt is looking at increasing the pension lifetime allowance (LTA). The move is being interpreted as attempting to reverse the trend of early retirements and get more over 50s to consider re-joining the workforce. Mr Hunt is keen to bolster Britain’s workforce as he looks to deliver on the Prime Minister’s pledge of growing the UK’s stalling economy. Pensions experts, claim that by freezing the allowance and then subsequently lowering it, the government has penalised pension savers over the last decade. They …

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