Pension Allowances

From April 2016, individuals with annual income of more than £150,000 (including employers and their own pension contributions) see their annual pension allowance reduced.

Under new proposals outlined by the Chancellor this will be reduced by £1 for every £2 of income over £150,000 down to a minimum of £10,000. The proposals will not affect individuals with income, excluding pension contributions, of under £110,000.

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