Only 12% of companies have prepared executives for A-day

The figures show that just 12% of firms questioned have finalised alternative arrangements for executives adversely impacted by the A-day changes, where their retirement benefits are going to exceed either the new Lifetime Allowance (LTA) of £1.5m, or the new Annual Allowance of £215,000. Additional tax charges will then be levied on any benefits which exceed these limits. For smaller employers, lower salary levels mean that in some cases this is likely to be less of an issue, but the survey claims 76% of respondents indicated they employed people who were likely to be adversely affected...