FT Adviser quotes Sarah Higgins on the abolished LTA and how this affects divorce and inheritance
A big surprise in the Spring Budget was the abolition of the lifetime allowance (LTA). The change will affect those with pension pots of more than £1.07m, as well as those who have stopped saving into their pensions having reached the limit.
Sarah Higgins, Partner, comments for FT Adviser:
"The change in the tax rules may encourage more people to put money into their pensions over the course of their marriage and so upon divorce the pension may be relatively more valuable than other investments. Therefore, pension sharing orders may become more likely as pensions may be disproportionately valuable, meaning that it is not possible to offset the value of a pension share with other assets."
Read the full article, including Sarah's comments, in FT Adviser here.
