Lifetime Allowance definition

Lifetime Allowance means the limit as to the combined total of pension benefits that can be accrued within registered pension schemes without triggering the Lifetime Allowance charge. See further the Key Features Document;
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Lifetime Allowance has the meaning given in section 218 of the FA 2004.
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Lifetime Allowance means the same as in s218 of the Finance Act 2004 (individual's lifetime allowance and standard lifetime allowance);
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Examples of Lifetime Allowance in a sentence

  • If you are affected by either the Annual Allowance (the value of pension savings you can make each year), or the Lifetime Allowance (the total value of your pension savings), you may be eligible to receive a payment in lieu of the University contributing to a pension scheme.

  • If you do not know the percentage of the Lifetime Allowance (LTA) used, or the date your benefits crystallised, your other pension provider(s) will be able to confirm these details for you.

  • This Guaranteed benefit is subject to a check against your Lifetime Allowance (LTA) and may mean your beneficiaries are left with an LTA charge to pay.

  • CETVs are calculated within the guidelines and framework prescribed by the Institute and Faculty of Actuaries and do not take account of any actual or potential reduction to benefits resulting from Lifetime Allowance Tax which may be due when pension benefits are drawn.

  • Please note that the pension you give up does not count against the standard Lifetime Allowance.


More Definitions of Lifetime Allowance

Lifetime Allowance have the meanings given to them under the Finance Xxx 0000.
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Lifetime Allowance means the lifetime allowance described in section 218 of the Act that is appropriate to a member.
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Lifetime Allowance. – means the amount of tax privileged pension savings that you can build up in all of your pension schemes, before an additional tax
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Lifetime Allowance means the standard lifetime allowance as defined in Section 218 of the FA 2004.
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Lifetime Allowance means the limit to which the value of all of your pension arrangements can grow without incurring tax charges.
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Lifetime Allowance means the standard Lifetime Allowance as defined in Section 218 of the Finance Xxx 0000
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Lifetime Allowance means the standard Lifetime Allowance as defined in section 218 of the Finance Act 2004.
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