Iron-arsenic pnictides are a class of compounds in which strong Coulomb interactions manifest in novel properties. We discuss basic ideas behind a Lifshitz transition and review salient properties of 122-pnictides (AFe 2As2; A = Ca, Sr, Ba, Ra). Using T = 0 first principles total energy calculations, as a function of hydrostatic pressure, we show that several pressure-driven anomalies, and the tetragonal (T) to collapsed tetragonal (cT) phase transition in the 122-pnictides family, can be understood as consequences of Lifshitz transitions arising from nontrivial changes in Fermi surface topology. We also show that several features found in our calculations, namely, enthalpic, magnetic and T-cT transitions, are universal to the 122-pnictides.