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Overseas Transfer Allowance

An individual’s overseas transfer allowance is normally set at the same level as their lump sum and death benefit allowance. If the individual has valid lifetime allowance protection such as fixed protection 2014 their overseas transfer allowance will be higher than the standard amount.

A transitional tax-free amount certificate will not affect an individual’s overseas transfer allowance.

This allowance is reduced if benefits were taken before 6 April 2024 and when any overseas transfers take place on or after that date.

Tax Year Overseas transfer allowance
2025/26 £1,073,100
2024/25 £1,073,100

 

Overseas transfers

This article looks at the tax implications for individuals looking to transfer their pension benefits overseas. 

Read more  about Overseas transfers

Transitional tax-free amount certificates

Here we explain what a transitional tax-free amount certificate is and does. How to decide whether to apply for one and what information would allow you to successfully apply for one.

Get the facts  

Lump sum allowance (LSA) and lump sum and death benefit allowance (LSDBA)

The Lump Sum Allowance (LSA) and the Lump Sum and Death Benefit Allowance (LSDBA) were introduced on 6 April 2024 to replace the Lifetime Allowance (LTA). The LSA applies to the amount of tax-free lump sums you can access from all your pension savings, while the LSDBA is a limit on the total amount of tax-free lump sums that can be paid from your pension upon death.

Read more  about Lump sum allowance (LSA) and lump sum and death benefit allowance (LSDBA)

Disclaimer

The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.

All references to taxation are based on our understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances of the investor.