Pension Lifetime Allowance set to increase

The Lifetime Allowance will increase to £1,030,000 from 6 April 2018. This is a welcome increase in pension allowances for the first time in seven years.

Following the increase to the Consumer Price Index (CPI), the Chancellor has announced that the Pension Lifetime Allowance will be increased to £1,055,000 on 6 April 2018.