Old Mutual Wealth (OMW) is launching a pension planning calculator ahead of the tax year-end to help advisers deal with complex changes to the annual allowance.
The calculator will take into account the challenging rules around defining 'adjusted' and 'threshold' income, as well as any carry-forward allowances available. It will be hosted on Old Mutual Wealth's website and rolled out to advisers through February and March. The tool was set-up in response to demand from financial planners looking for support in dealing with the annual allowance taper. In the 2015 Budget, the then Chancellor George Osbourne announced the pensions annual allowance would be reduced for those earning above a certain threshold. Individuals with an ‘adjusted incom...
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