McPhail: £40k annual allowance may push public servants out of DB

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Lowering the annual pension contribution allowance to £40,000 could persuade some middle-management public servants to take up career average schemes to avoid harsh tax penalties, pensions expert Tom McPhail says.

Tom McPhail, head of pensions research at Hargreaves Lansdown, makes the prediction ahead of the Treasury announcement of the new annual allowance on Thursday. As part of a raft of pension refor...

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