Half of pensioners not prepared for LTA changes - survey

Independent advisory group deVere, which carried out the survey, said its results are a warning that British retirees risk being hit with hefty additional tax burdens when the lifetime allowance for pensions drops from £1.5m to £1.25m in April. In there poll, 46% of pension holders have not yet taken action of any kind to mitigate the effects of the reduction. The firm warned that even if a pension pot is significantly below £1.25m today, it is "perfectly possible" for savers in their 30s and 40s now to accumulate pensions savings of £1.25m by the time they retire. They could then be ...