At the 2023 Budget, the Government announced that the Lifetime Allowance would be abolished from 2024/25 onwards. For 2023/24, the Lifetime Allowance is still in place and some benefits are still restricted by Lifetime Allowance availability. However, the Government has removed any Lifetime Allowance charges for the 2023/24 tax year. This means benefits in excess of the Lifetime Allowance will usually be subject to income tax at marginal rate. Your member portal has yet to be updated for these changes to the Lifetime Allowance.
We are always looking to improve our customer service. As part of this we have written to some customers who may be contacted by DJS, a market research agency we are working with. We have written to all customers who may be contacted to ensure you know it is a legitimate call.