Guidance
Lifetime allowance guidance newsletter — December 2023
Lifetime allowance newsletter published by HMRC in December 2023 to update stakeholders on the latest news for pension schemes.
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This newsletter is published by HMRC’s Pension Schemes Services to update stakeholders on the latest news for pension schemes. The lifetime allowance guidance newsletter has articles on:
- pension commencement lump sums
- taxable lump sums and Pay As You Earn (PAYE) for employers payroll reporting
- dependants’ or nominees’ flexi-access drawdown pension or annuity (benefit crystallisation event 5C and benefit crystallisation event 5D)
- enhancement factors
- lifetime allowance protections and enhancements — application deadlines
- scheme administrator reporting
- lump sum death benefits
- lump sum death benefits from before 6 April 2024 — crystallised funds
- international — overseas transfer allowance
- international — member payment charges
- transitional arrangements
- protection look-up service
- further information on the planned abolition of Lifetime Allowance (LTA)
Updates to this page
Published 20 December 2023Last updated 8 February 2024 + show all updates
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Made it clear that where an individual received a benefit crystallisation event (BCE) statement, but they are not receiving pension income, they must be provided with a BCE statement on or before 5 April 2025.
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A minor error in the explanation of when PCELS will be paid has been corrected.
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The lifetime allowance email address to send any communications to has been updated.
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First published.