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Life cover for high earners. David Pugh asks: Are senior employees and their beneficiaries at risk?

Headlines about the hardships of high earners do not garner sympathy, particularly nowadays. The fact remains though that the financial landscape is changing rapidly for this group at the moment, and employers should act quickly to protect senior staff. Whether it is the 50% income tax band for those that earn over £150,000, introduced by the Chancellor in this year’s Budget, or the 2006 (A-Day) lifetime allowance, which limits the amount individuals can accumulate in their pension, high earners seem to be penalised from almost every direction. In addition to these high profile change...

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