Those earning over £150,000 a year ought to contact us asap! Two bites at Annual Allowance as Pension Input Periods are aligned with tax years from 2016.
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Other pension news
Lifetime allowance: The proposed reduction in the lifetime allowance from £1.25M to £1M will go ahead as planned from the 2016/17 tax year. It will be indexed in line with CPI from 2018/19. Details are awaited of a new transitional protection option for those with existing pension savings already over £1M who would otherwise face a retrospective tax hit.
The details provided in this email are for information only and do not constitute personal advice.
Kind Regards
Ed Fairey BSc (ECON) Hons, APFS, CeMap
Chartered Financial Planner & Managing Director
Telephone: 0845 319 0005
Fax: 020 7160 5265
Web: http://www.faireyassociates.co.uk/
For details of our offices see www.faireyassociates.co.uk/offices.html
