BUDGET '09: HNW advisers reel at pension tax relief move

The Chancellor Alistair Darling said, from April 2011, pension tax relief for people earning over £150,000 will be restricted to ensure it is tapered to the same 20% the majority of others receive. Savers who do not earn in excess of £150,000 are unaffected, as are those who continue with their regular pattern of contributions. Frank Cochran, founder of Celebrity Financial Planning, says this latest measure only adds to the "appalling" decision to remove Advanced Corporation Tax (ACT) relief. "This is yet another Government nail in the coffins of those trying to make a successful livi...