The maximum fund that a member can accumulate from all sources without being subject to a tax charge.
The lifetime allowance is determined by the Chancellor of the Exchequer. The amounts for tax years 2010/2011 to 2015/2016 are as follows:
| Tax Year Ending | Lifetime Allowance |
|---|---|
| 5/4/2011 to 5/4/2016 | £1,800,000 |
It is sometimes referred to as the standard lifetime allowance.