Growth rate shown is the compound annual rate payable at the beginning of each year. Please note that for Defined Benefit/Final Salary Schemes there are a different set of rules and calculations used to test against your Lifetime Allowance. The Lifetime Allowance applies to all UK Registered Pensions and, overseas pensions that qualify for UK Tax Relief on or after 6th April 2006. If you are unsure as to whether the reduction in the Lifetime Allowance will affect you, then you should contact Lifetime to speak to one of our Pension Specialists.