Update: ‘Replacement’ of the lifetime allowance

Following an initial Policy Paper and a Draft Finance Bill issued last summer – and a resulting consultation period – further draft legislation was released in November 2023. This has provided more clarity on the new rules and the transitional arrangements. In this postcard, Fidelity’s Paul Squirrell summarises some of the announcements made in the draft legislation and analyses what this could mean for financial planning. 

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