lifetime allowance

The lifetime allowance will rise to £1,073,000 from next April as inflation in the year to September stands at 1.7%.

More than 4,500 pension scheme members breached the lifetime allowance in the 2017/18 tax year, an increase of 36% from the year before, according to HM Revenue and Customs (HMRC).

The government must conduct a fundamental review of tax reliefs and allowances to reduce complexity and confusion, says Malcolm McLean

The next chancellor should urgently address "absurdly complex" tax relief rules as data reveals NHS waiting lists have lengthened due to senior doctors working fewer hours to avoid the charges.

This week's top stories included Legal & General completing a record-breaking buyout with the Rolls-Royce UK Pension Fund, and the government setting out plans for flexible NHS pensions.

Senior NHS clinicians could be offered an option to halve their pension contributions in exchange for also halving the rate of pension growth.

Accidental breaches of lifetime allowance fixed protections could no longer result in onerous tax bills after HM Revenue and Customs (HMRC) dropped its appeal of a landmark case.

The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.

The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.

The new tax year brings a number of changes for pensions including the long-awaited name change for the Single Financial Guidance Body (SFGB).