The latest CPI figure has been recorded at 1.7% in September 2019, meaning the lifetime allowance (LTA) is boosted to £1,073m.
The annual allowance remains frozen at £40,000.
Royal London pension specialist Helen Morrissey said: “This exposes the real lack of joined up thinking when it comes to this ridiculously complex web of tax allowances and highlights the need for urgent reform.”
The headline rate was a little lower than expected, helped by a fall in petrol prices.
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