The industry has fiercely criticised the cuts to annual and lifetime allowances revealed in the Autumn Statement, arguing they will undermine confidence in pensions.
The government is to cut the annual allowance from £50,000 to £40,000 and lifetime allowance from £1.5m to £1.25m from 2014 (PP Online, 5 Dec - http://www.professionalpensions.com/22297560). PwC...
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