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- £268,275The pension lifetime allowance for the 2024/25 tax year is currently £268,275, unless you previously applied for lifetime allowance protection1. The lifetime allowance is being abolished from 6 April 20242. The lump sum allowance (LSA) is also £268,275, and you won't be affected by it if the total value of your pensions (excluding the State Pension) is less than £1,073,1003.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.It is currently £268,275 for the 2024/25 tax year, unless you previously applied to HM Revenue & Customs (HMRC) for lifetime allowance* protection (in which case a higher limit may apply).www.bbc.co.uk/mypension/aa-and-lta/There will be no lifetime allowance charge in tax year 2023/24. The lifetime allowance is being abolished from 6 April 2024. A deadline of 5 April 2025 applies for those applying for fixed protection 2016 or individual protection 2016.adviser.royallondon.com/technical-central/pensions…The lump sum allowance (LSA) is £268,275. You generally won’t be affected by the LSA if the total value of your pensions (excluding the State Pension) is less than £1,073,100. The LSA is 25% of this amount, meaning the tax-free limit is usually £268,275.www.moneyhelper.org.uk/en/pensions-and-retirem…
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