Our step-by-step guide to calculating the potential tax charges for defined benefit schemes following Treasury changes to the annual allowance.

The annual allowance for tax privileged pensions will be cut from £255,000 to £50,000 from April next year, the Treasury announced this morning.

The National Employment Savings Trust(NEST) will be retained despite a cull of over 177 quangos, a Cabinet Office document says.

Nearly half of under-50s admit they are not doing enough to prepare financially for their retirement.

The pension pot needed to satisfy the minimum income requirement could need to be as much as £300,000 in order to stop people falling back on state benefits, Towers Watson says.

The FSA has issued a warning to advisers over occupational pension transfer deals after it became concerned over the quality of advice being given.

Public sector pensions have been run like an "unstable Ponzi scheme" which threatens to impoverish future generations, according to an independent report.

Yesterday, the Government said it would work with the industry on "alternative ways" to implement pension tax relief restrictions, including reducing the annual allowance to between £30,000 and £45,000 instead.

The Government will scrap the rule which creates an effective obligation to purchase an annuity by age 75.

The government will scrap the rule which creates an effective obligation to purchase an annuity by age 75.