Budget to provoke pensioners' move abroad

The international advice firm warns the scrapping of the age-related personal allowance will mean there will be fewer incentives for people to hold pensions in the UK. Pensioners will transfer their pensions to sunnier climes "to protect their retirement funds from the government's on-going raids" says chief executive Nigel Green. From this April, the first £10,500 of income will be tax free for individuals aged between 65 and 74, and £10,660 for those aged 75 and over. But from 6 April 2013, the personal allowance will be frozen for current pensioners and not available for anyone ret...