Originally Posted by
heights good
On a slight side-note, as there is no 'pension pot' that has my pension contributions sitting in it, how can individuals be taxed on a lifetime allowance on something that doesn't actually exist?
There are a number of Benefit Crystallisation Events (BCE) which apply at the time and point you trigger one of them. It’s at that point that your ’pot’ (notional or otherwise) is calculated and a tax charge considered against it.