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For members of the Local Government Pension Scheme in England and Wales

Lifetime allowance quick check tool

25%

Overview

You can use this tool to estimate how much of the standard lifetime allowance your LGPS pension savings will use. The lifetime allowance is the total value of all pension benefits you can have without having to pay extra tax.

Each time you take payment of a pension, you use up a percentage of the lifetime allowance. The lifetime allowance is set by the Government and is currently £1,073,100. It covers pensions in all tax-registered pension schemes – not just the LGPS. However, it does not cover the state pension, a pension you have been awarded as part of a divorce or a dependents’ pension.



50%

Pension details

Please enter a valid value for Yearly Pension.
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You have not entered a value for an automatic lump sum (payable in respect of membership before 1 April 2008) - please be sure this is correct.
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Results

Total value of pension benefits £
Percentage of standard lifetime allowance used %

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