Overview

The UK’s Conservative-Liberal Democrat coalition Government has published its proposals for restricting pensions tax relief, with the aim of raising the same amount of revenue, but by less complex means than the high income excess relief charge put forward by the previous, Labour Government.

UK law firm Nabarro’s Pensions Alert last week announced the key proposals. This briefing looks at the detail and the implications for those involved with pension schemes.


CONTENTS

• Annual allowance: reduction
• Annual allowance: exemptions
• Annual allowance: smoothing
• Annual allowance: calculation
• Annual allowance: information requirements
• Lifetime allowance: changes
• Implications for trustees, scheme administrators, employers and individuals