Back to basics

Dear Editor, The latest attack on pensions within the Pre-Budget Report, whereby the lifetime allowance and annual allowance is frozen for five years, yet again brings pensions into the political arena. When proposing simplification in 2004, the Government's plans were that the Chancellor would set the limit for the lifetime allowance and annual allowance quinquennially in line with inflation. At conferences, the industry questioned Treasury officials on this, and was told categorically that levels would be raised. Some would say that with the stock market crash, is this an issue? Many ...