In this week’s episode, I talk about lifetime allowances, and explain how you can gain more assurance about the savings you’ve been accruing throughout your life so far.
If you’ve been saving into a pension throughout your life, you should be allowed to feel confident about the future you’ve been saving for.
The government will maintain the current lifetime allowance until April 2026, removing the usual annual incremental rises.
The lifetime allowance is a limit on the amount you can withdraw in pension benefits in your lifetime before you trigger an additional tax charge.
A staggering 35% of the UK adults have NO Pension Plans and 43% don’t even know how much they will need for their ideal retirement lifestyle!
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