Autumn Statement commentary on lifetime allowance update from Clare Moffat
Clare Moffat, Pensions and Tax Expert, Royal London:
"We now have the confirmation that removal of the lifetime allowance (LTA) will be going ahead in April 2024.
"We know the devil will be in the detail which we are expecting in the Finance Bill coming soon, and we hope to get clarification in how this will be implemented. Until we get this clarity making decisions and advising on LTA will remain challenging for advisers."
For further information please contact:
Patricia Corrigan, PR Manager
About Royal London
Royal London is the UK's largest customer-owned life, pensions, and investment company, and one of the top 30 mutuals globally*. With over 160 years of heritage and no external shareholders, we're able to take a long-term view, focusing on supporting better outcomes for our customers.
Today, Royal London looks after 8.4 million life and pension policies, with £212 billion of assets under management and over 5,000 colleagues**. In 2026, we shared £199 million of our profits with approximately 2.4 million eligible customers.
We invest in partnerships that reflect our values, including being the only Founding Partner of the first British & Irish Lions Women's Team, supporting women's and girls' rugby across grassroots and elite levels to help develop the next generation of players and coaches. All driven by our commitment to doing what's right for our customers.
Royal London works for you.
Discover more at royallondon.com.
*Based on total 2024 premium income. International Cooperative and Mutual Insurance Federation Global data, 2026.
**Figures quoted are as at 30 June 2026.
