Dilemma: SIPP & LTA & FP2016

[genou]

I would be interested to know whether anyone is incentivised to add more to their pension now, given Labour’s intent to reverse this. The only beneficiaries likely to be people able to take pensions that would otherwise be higher than the LTA before the next election?

I'm not intending to add more. But I might be a beneficiary. I am over the LTA, and have uncrystallised funds which would be caught at 75 under the LTA regime. If there is some way under the no-LTA regime that I can crystallise these funds then it may be that even if LTA is brought back in, I'll have nothing left to be caught by it. But that needs the fine detail of implementation to be available.

[mark88man]

I think reversing it is unlikely to be a priority and even if it is, presumably reintroducing it might offer a chance of further protection at a higher level. I vote labour but will benefit from this and have changed my plans to work full time until retirement rather than part time (not changing the target date just sacrificing the part time rampdown).

Also I am not expecting the election for 18 - 24 months so that's a fair time + changes would probably not come into effect until the first tax year of the new (improved) administration 2025 or maybe 2026

For me the main benefit of the changes is increased AA which almost exactly matches the part time income I would have given up - although the abolition of LTA gives an increase in flexibility about when to take my deferred DB (Private not Public Sector) which I might have had to take early

[taken2often]

The main benefit is to those who will be 75 before the next election. A chrystalisation may also be beneficial. This was bad law by bad people. So to say that they will re-introduce it tells you all about them.

Conservatives may be far from any good at present, but they do not come close to the immorality and non logical thinking of the Liberal/Semi-Socialists

Bob

[ursaminortaur]

The main benefit is to those who will be 75 before the next election. A chrystalisation may also be beneficial. This was bad law by bad people. So to say that they will re-introduce it tells you all about them.

Conservatives may be far from any good at present, but they do not come close to the immorality and non logical thinking of the Liberal/Semi-Socialists

Bob

It was the Conservatives who kept lowering it from the £1.8 million it was under Labour and then froze it thus catching more and more ordinary people.
Although Labour say they will re-instate it I doubt they would re-instate it as it was at £1,073,100 rather than at a much higher level - but we will have to wait for their manifesto to see exactly what they propose.

[taken2often]

You are right. It started at the right level. All the parties have been moving left since then. This is how they got into an illogical position tha has got so bad even they now know it was wrong.

I am sitting here watching on Youtube an interview between Neil Oliver and George Galloway. With time George by not changing has turned into a Conservative with a small c and a Pundit who now talks sense. That is how much things have changed. He recognises that logic has been replaced by the individuals feelings regardfless of how stupid they are.

Bob