Dave Downie: When funding above the annual allowance makes sense

Pension saving limits are one of advisers' biggest frustrations. In a recent poll of advisers we conducted, two-thirds cited the tapered annual allowance (TAA) or the money purchase annual allowance (MPAA) in the top three things that they'd like to see reformed to help their business and their clients. Pensions are the best place for clients to save for their retirement, when compared with other options on a like-for-like basis. However, there is a natural aversion to paying tax charges and this may be limiting the contributions that some clients are prepared to pay. This is certainl...