Have your say on government e-petitions

Abolish the Life Times Allowance (LTA) on pension savings

Submitted on Monday 23rd March 2015

Published on Thursday 26th March 2015

Current status: Closed

Closed: Monday 30th March 2015

Signatures: 1,254

Tagged with

Pensions ~ Tax

Petition Action

Abolish the Life Times Allowance (LTA) on pension savings

Additional Information

The LTA is amount you can have in your pension pot before you start being taxed at the excess at 55%. It is not calculated on the amount you contribute to your pension. It is calculated on what you have in it on retirement. This depends on your rate of return (and is therefore unpredictable). That turns pension saving into an admin-heavy guessing game. The LTA is also deeply unfair. Calculation anomalies mean that those with DC pensions hit it at an income level of around £25,000 before hitting a the punitive 55% tax rate. Those with DB pensions (most of the public sector) get more like £50,000. The differing levels of protected pensions are also unfair. Some have £1.8m plus. Those saving now get £1m. At Moneyweek (www.moneyweek.com) we think this iniquitous and confusing limit should be abolished immediately.


You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!

Have your say on this petition!

comments powered by Disqus

repetition.me is a Good Stuff website

44.204.34.64 Thu, 28 Mar 2024 13:07:12 +0000