You know the news about the Lifetime Allowance. You may also know Labour will reverse it. It’s a game of political tennis. That creates uncertainty.
It feels like you get good news one minute, to then feel the rug metaphorically pulled from under you. So what action can you take?
Anyone who has a pension fund that falls within the LTA rules tends to focus on tax. That’s natural. It often means the decisions you make regarding asset allocation tend to be tax focused.
It is time to rethink that perspective. It’s also a time to rethink wealth management costs. If you have a pension fund over £2m, charges are far from paltry.
By having an open, unbiased conversation about your pension fund, and allowing some of your traditional thoughts to be challenged, you can realise it does not matter what the politicians do or say.
By accepting pensions as a political football, not knowing which side, if any, will win, and focusing on what really matters, you can achieve some great outcomes.
Let’s talk.