Best Practice

Pensions: Avoiding the LTA

Pay and conditions
Yet more changes are afoot when it comes to your pensions. The latest cuts to the lifetime allowance could affect more teachers than you’d think. Expert David Downie explains.

Pensions are rarely out of the headlines these days, but how much attention do you pay to yours? Do you know the real value of it? Recent research by YouGov found that four in five (79 per cent) Brits do not know what income their pensions will give them when they retire. 

And the younger you are, the less attention you are likely to be paying to your pension. Only a quarter of under-45s with pensions know what their pension pots are currently worth, and just one in five (21 per cent) say they know what income they are expecting when they retire.

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