2023-03-15–2024-04-06
Abolition of pensions lifetime allowance: contested tax advantage for wealthiest savers
The government justified the reform on the grounds of work incentives and the difficulties the former cap created for certain highly skilled professionals. The Institute for Fiscal Studies and opponents considered the general abolition expensive, poorly targeted and liable to create new tax-planning strategies, while acknowledging defects in the previous system. This is a contested tax policy choice, not a legal breach.
- State of the evidence
- Documented
- Attribution
- Directly implicated
Sources · 1
- [1]Institute for Fiscal StudiesShould the pensions lifetime allowance be reintroduced, and if so, how?High reliability
Last verified: 6 September 2026
