Financial Secretary to the Treasury, Mark Hoban MP has announced a series of
changes to the pension rules. The main changes include:
- for 2011/12 the amount of the annual allowance will be
reduced to £50,000 (from the current £255,000) - the method of calculating the amount of pension input
amounts will be changed - there will be rule that allows carry forward of unused
annual allowance from the last three tax years, and - from April 2012 the lifetime limit will be reduced to £1.5m.
