Tangled web: Are proposed pension tax rules really necessary?

Working in the arena of pensions legislation and regulation can be frustrating. The pensions industry is often presented with new rules that appear unnecessarily convoluted but usually we can appreciate the ultimate customer benefit the government or regulator is trying to bring about. That is not the case with the latest set of proposed changes to the pensions tax rules. Last month, HM Revenue & Customs (HMRC) published new proposed pension tax rules. This is its attempt to make good on the Chancellor's promise in the Spring Budget to remove the lifetime allowance from legislation...