Pension input changes 'appalling', experts warn

PIPs are the periods over which pension savings are measured. They generally run for one year from the date of the first contribution. This means PIPs are not necessarily the same as tax years, leading to complications for investors who want to carry forward their annual allowance (AA) of £50,000 on contributions. "This tax year you can carry forward unused allowance from 2008/09, 2009/10 and 2010/11," Laith Khalaf, pensions analyst at Hargreaves Landsown says. "However, suppose your scheme has a PIP which runs from 7 April to 6 April. "The contributions you make now count towar...