A final Lifetime Allowance test is carried out on your pension savings when you reach age 75. This will assess any growth on your crystallised fund since the original crystallisation date, together with the value of any remaining uncrystallised funds. Should this take you over the available Lifetime Allowance, a tax charge will apply to the excess.

To avoid any surprises, you might want to plan ahead for this. For helpful tips, please contact us for our Guide to SSAS and the Lifetime Allowance.