UK - The Treasury confirmed the annual allowance will be cut from £255,000 to £50,000 and the lifetime allowance reduced from £1.8m to £1.5m.
It said this would replace the "complex proposal" legislated for by the last government in the Finance Act 2010. The Treasury said the measure would raise £4bn a year and would help reduce the "...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
