Lifetime allowance briefing

20 / 12 / 2018

Lifetime allowance is the amount of pension savings an individual can make over a working lifetime without paying tax. If an individual’s total pension savings exceed the lifetime allowance, a tax charge is due on the excess benefits. 

Employees are more likely to be affected by the lifetime allowance if they have long service in the NHS Pension Scheme, a high income and benefits in other workplace or personal pension schemes. Encouraging staff to engage with their pension savings earlier may help employees take steps to mitigate a tax charge at retirement. 

Our new briefing provides key information, including: 

  • what lifetime allowance is 
  • the lifetime allowance charge
  • who is likely to be affected
  • options for affected staff. 
Pension tax is a complex area and we have published a series of resources on our pension resource library to support your conversations with staff. 

 

Latest Tweets

Latest Blog Post

Stay curious and open - key messages from ODN Europe

17 / 7 / 2019 12.48pm

OD practitioner Ruth Ball shares her experiences from the ODN Europe conference.

Why Register?

Great reasons to register with NHS Employers

  • A personalised website
    Manage your profile and select topics of interest to you
  • Access your dashboard
    Bookmark useful content to help you quickly find what you're looking for
  • Get involved
    Contribute to our Talking Points discussions, comment on and rate our webpages
  • Keep up to date
    Receive the latest newsletters and media summaries

Log In