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ACA responds to HMRC consultation on abolishing the pensions lifetime allowance

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Published on: 18 August 2023

Published by LNB News

LNB News 18/08/2023

Document Information

Issue Date: 18 August 2023

Published Date: 18 August 2023

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Association of Consulting Actuaries (ACA) has published two responses to the HMRC consultation on abolishing the pensions lifetime allowance. The first response focuses on the planned timeline for the changes and the potential risks from implementing rushed flexibilities for defined benefit schemes. The second response provides some thoughts on transition and disclosure where the intended policy has not yet been published. The ACA also anticipates providing a third response on some more technical points, but notes that these are a complex and interdependent set of changes and so there is a limit to how much detail it can review without knowing all of the policy decisions.

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