Embracing a New Era in Pension Regulation

In the 2023 Spring Budget, the government announced the abolition of the Lifetime Allowance (LTA), signaling a fundamental shift in pension regulation. This change retires the LTA, LTA Excess Lump Sum, and AFT, while introducing the individual Lump Sum Allowance (LSA) and Lump Sum Death Benefits Allowance (LSDBA). Additionally, Benefit Crystallisation Events (BCE) have evolved into Relevant Benefit Crystallisation Events (RBCE), reflecting a more tailored approach to pension crystallisation. With the extension of UFPLS availability to individuals aged 75 and over, along with the newly authorised Pension Commencement Excess Lump Sum (PCELS), the regulatory landscape is becoming more flexible and client-centric.

The TWG team has rigorously assessed and seamlessly integrated these far-reaching changes into our illustration systems, ensuring you enjoy a fully compliant and up-to-date solution. Trust TWG to navigate these regulatory updates on your behalf, so you can focus on what matters most—optimising your pension strategies.

Contact us today for an illustration platform that is continuously updated to meet the current regulatory standard.