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 reforms,...
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.
The Pensions Advisory Service (TPAS) helped 187,000 people in 2017/18, a 9% fall on the previous year despite setting up special helplines for specific scheme members.
The Liberal Democrat party has passed a motion pledging to cap tax-free lump sums under Freedom of Choice at £40,000 if elected into government.