Annual Allowance

Budget documents have confirmed the lifetime allowance is to be indexed annually in line with the consumer prices index (CPI) from 6 April 2018.

The 2015-16 tax year will be split into two mini tax years for the purposes of the annual allowance as part of transitional rules aligning pension input periods with the tax year, the government has announced.

Potential changes to pensions tax relief could lead the industry "into a very dark place" according to former pensions minister Steve Webb.

Duncan Buchanan says the industry must concede some ground to secure consensus

The Green party wants to halve the amount of tax relief given on pension contributions to fund a non-contributory ‘citizen's pension'.

Prime minister David Cameron has pledged to restrict pensions tax relief for high earners if the Conservatives win the general election.

The Budget 2015 could see the Tories pledge to raise the income tax bracket by cutting the pensions annual and lifetime allowances, according to reports.

With the general election almost upon us we eagerly await news telling us what Cameron, Miliband et al want to do to our pension system should they be elected.

PP looks at the impact of reduced allowances for members who access their pots

This morning newspaper reports said George Osborne is expected to reject calls to cut the tax-free annual pension contributions limit from £40,000 to £30,000 in his Autumn Statement.