Pensions tax relief cut by two-thirds in a decade - Royal London

This was one of the main conclusions of a Royal London policy paper - Pensions Tax Relief: ‘Time to end the Salami Slicing'. The paper also estimated some 100,000 people are now covered by complex transitional protections associated with different reductions in lifetime limits - a further indication of what the group called "the huge complexity created by repeated changes in tax limits". The paper considered how cuts in the Lifetime Allowance (LTA) for pension tax relief have interacted with falling annuity rates to reduce the size of pension that can be bought within HMRC limits.  Wh...