{"id":1202,"date":"2021-08-04T09:13:44","date_gmt":"2021-08-04T08:13:44","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=1202"},"modified":"2021-08-05T11:52:00","modified_gmt":"2021-08-05T10:52:00","slug":"warm-outside-dont-forget-about-the-lta-freeze","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2021\/08\/04\/warm-outside-dont-forget-about-the-lta-freeze\/","title":{"rendered":"Warm outside? Don\u2019t forget about the LTA freeze"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Summer, freedom and (hopefully) sunshine are all well on the way, but not planning for the Lifetime Allowance (LTA) freeze could cast a cloud over your finances.<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>For the next five years (until\nApril 2026), the pension LTA will be held at its current level of <strong>\u00a31,073,100<\/strong>.\nThis means that the amount you can hold in your pension without incurring tax\nfor withdrawals will remain static, even in the face of inflation. As a result,\npension savers will likely need to consider other saving options over the next\nfew years in order to avoid a tax bill. Tax is currently payable at 55% on\neverything over the limit if you take the money as a lump sum, or 25% if you\ntake the money in another way, such as drawdown or through an annuity. As\npeople continue to build up their pensions, the number approaching the LTA will\nincrease as a result of the \u2018big freeze\u2019; so, you might wish to consider the\nvarious other options available to supplement your retirement savings.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The solution that suits you will\nbe wholly dependent on your personal situation and circumstances. Consideration\nand planning are therefore important before you select the option that is right\nfor you, particularly in light of the complexity of calculations around\npensions and the LTA.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong><em>The value of investments and\nincome from them may go down. You may not get back the original amount\ninvested. A pension is a long-term investment. The fund value may fluctuate and\ncan go down. Your eventual income may depend on the size of the fund at\nretirement, future interest rates and tax legislation.<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Summer, freedom and (hopefully) sunshine are all well on the way, but not planning for the Lifetime Allowance (LTA) freeze could cast a cloud over your finances. For the next five years (until April 2026), the pension LTA will be held at its current level of \u00a31,073,100. This means that the amount you can hold [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":1203,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,88],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/1202"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=1202"}],"version-history":[{"count":2,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/1202\/revisions"}],"predecessor-version":[{"id":1311,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/1202\/revisions\/1311"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/1203"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=1202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=1202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=1202"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=1202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}