Phil Clarke, technical services manager at Rowanmoor Pensions, reflects on recent changes to pension rules.
Now the dust has settled on the many changes to pensions legislation, which will take place from 6 April 2011, it may be an appropriate time for reflection. The changes to the annual allowance, incorporating carry-forward, are to be welcomed as these are much clearer than the complex anti-forestalling legislation enacted by the previous administration. The reduction in the lifetime allowance from 6 April 2012 is tempered by the ability to apply for fixed protection should a member expect their fund to reach the current lifetime allowance of £1.8 million by the time they crystallise th...
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