![](https://www.difx.ae/wp-content/uploads/Pension-pot.jpg)
Back in 2006, there was a major shake up of the UK pension market. A-Day as it was called, was set to make the new world of pensions in the UK ‘simple’. A-Day was the brainchild of the current Labour government and was announced in 2004, and its primary aim was to make things ‘simple’ going forward. Now if you know anything about UK pensions, nothing is ‘simple’.
There were many changes that A-Day brought to the market, but the biggest was undoubtedly the introduction of a lifetime limit on the size of your pension pot. When introduced, this Lifetime Allowance (LTA) was set at £1.5m and was subsequently increased to £1.8m, in an attempt to get more of us saving towards their retirement.