Pensions tax relief: Where do we go from here?

  Budget 2009 The first major tax relief restrictions since A-Day in April 2006 began with Alistair Darling's 2009 Budget, when he announced he would restrict higher-rate tax relief on pension contributions for people with incomes over £150,000. Restrictions had previously been governed by the A-Day reforms, which gave an absolute lifetime allowance of £1.75m and an annual allowance of £245,000 (limits for the 2009/2010 tax year). In his 2009 Budget, Darling said that, from 2011 and for incomes above the £150,000 level, the value of pensions tax relief would be tapered down u...