Knowledge Bank > Retirement planning > The current pensions tax regime

05: Lifetime allowance

Everyone has a maximum permitted tax-exempt fund (or its equivalent value in retirement benefits). This is called the lifetime allowance, and in 2010/11 it is £1.80 million, after which time it will be frozen for the following five tax years.Last Updated

The FSA does not regulate tax advice. Tax rules are subject to change.

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Contents
The current pensions tax regime

01: The current rules
02: Basic features
03: Annual allowance for contributions
04: Special annual allowance
05: Lifetime allowance
06: Tax-free lump sum
07: When you can retire
08: Death benefits before retirement
09: Income in retirement
10: Investment rules
11: Penalties for exceeding limits
12: Action checklist

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