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What is the Lifetime Allowance for my UK pension?

The UK’s Lifetime Allowance is the total amount of savings you can take from all of your UK workplace and/or personal pensions without facing a UK tax charge (which applies irrespective of the fact you are no longer a UK resident and/or taxpayer).

Since 5 April 2019, the standard Lifetime Allowance has been £1,055,000 and will increase each year by inflation.

In some circumstances, individuals have certain protections against the Lifetime Allowance, or have applied for a Lifetime Allowance greater than the standard Lifetime Allowance. If you have applied for protection in the past, you should have received a certificate to confirm the protection obtained.