LTA Abolition – The government will legislate in the Autumn Finance Bill 2023 to remove
the Lifetime Allowance. The measure will clarify the taxation of lump sums and lump sum
death benefits, and the application of protections, as well as the tax treatment for overseas
pensions, transitional arrangements, and reporting requirements. This will take effect from
6 April 2024.

About £250 million will be made available to invest alongside UK pension funds into life
sciences and technology companies.
Employees will have a legal right to require a new employer to pay pension contributions
into their existing pension pot, so workers can have just one pension pot for life.
These measures will provide £75 billion for financing for high growth companies by 2030,
the chancellor said.

LTA Abolition – The government will legislate in the Autumn Finance Bill 2023 to remove
the Lifetime Allowance. The measure will clarify the taxation of lump sums and lump sum
death benefits, and the application of protections, as well as the tax treatment for overseas
pensions, transitional arrangements, and reporting requirements. This will take effect from
6 April 2024.

About £250 million will be made available to invest alongside UK pension funds into life
sciences and technology companies.
Employees will have a legal right to require a new employer to pay pension contributions
into their existing pension pot, so workers can have just one pension pot for life.
These measures will provide £75 billion for financing for high growth companies by 2030,
the chancellor said.