Chancellor sends 'mixed message' with pension tax relief cut

Prudential pension expert Vince Smith-Hughes said the move, announced in the Autumn Statement and set to come into force on 6 April, 2014, was a blow for long-term savers. However, he added: "It is important to remember that pensions tax relief continues to offer savers unbeatable value. Topping up their pension payments before the legislation comes into effect, and utilising carry-forward where applicable will enable people to make the most of their pensions contributions." The move is the second change to pension tax relief limits in three years. It stood at £255,000 when the coalit...