The tax collected from individuals breaching the Lifetime Allowance (LTA) has rocketed by £100m since it was introduced in 2006, with the latest figures showing that £110m in tax was collected from individuals exceeding the allowance during 2016/17, compared with less than £10m in 2006/7 when the LTA was introduced.

A Paraplanning boss has detailed how she dealt with a client who faced the “very rare” circumstances of four defined benefit pensions alongside personal pensions and lifetime allowance tax issues.

Nearly six out of 10 financial advisers want the pensions lifetime allowance abolished, according to a poll of 102 advisers by SIPP provider Momentum.

A Financial Planning director fears that the Lifetime Allowance may escape a cull of George Osborne’s pension policies.