HNWs considering working for longer following LTA removal

The majority of HNW individuals plan to take advantage of the tax change

Isabel Baxter
clock • 2 min read
HNWs considering working for longer following LTA removal

More than two thirds (67%) of high-net-worth (HNW) individuals are considering working for longer than planned after the removal of the lifetime allowance (LTA), according to the Saltus Wealth Index report.

In March's Spring Budget, chancellor Jeremy Hunt scrapped the LTA from 6 April 2023. He also raised the annual allowance from £40,000 to £60,000. The decision was an aim to tackle fears that the...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Government urged to exempt pension professionals from new tax standards regime

Government urged to exempt pension professionals from new tax standards regime

SPP says proposals have ‘tangible risk’ of ‘unintended consequences’ for schemes

Martin Richmond
clock 28 May 2024 • 2 min read
Tories pledge 'triple lock plus' ahead of general election

Tories pledge 'triple lock plus' ahead of general election

Industry says government's triple lock plus plan 'freezes out the younger generations'

Professional Pensions
clock 28 May 2024 • 3 min read
Buzz: What pension policies should an incoming government focus on?

Buzz: What pension policies should an incoming government focus on?

Ahead of the general election, we ask what pension policies should be focused on, amended or removed

Professional Pensions
clock 28 May 2024 • 1 min read
Trustpilot