Pension schemes newsletter 162 promises LTA regulations “when Parliamentary time allows”

On September 17, 2024, HMRC published the most recent issue of its Pension schemes newsletter. The newsletter notes that the consultation on the regulations correcting certain anomalies in the legislation abolishing the lifetime allowance concluded on August 14, 2024. The regulations will be published “when Parliamentary time allows”.

HMRC also notes that a “look-up service” for administrators enabling them to confirm members’ reliance on certain LTA protections is due to be moved to the Managing pensions service in 2025. Panel members are sought to develop the service, as well as to take part in research and provide feedback on the new system.