Mercer pensions technical manager Rosie Kwok gives us the background for this month's discussion... The reduced Annual Allowance (AA) of £50,000 will apply from the 2011/12 tax year and this will be followed by a reduction in the lifetime allowance to £1.5m, bringing immediate and longer term issues for trustees to deal with.
For example, the government is expecting schemes will be redesigned to minimise the effect of the AA charge on members. Rosie Kwok: While there is a clear need for communications with members t...
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